A "key catalyst" for Kinnate Biopharma Inc. (KNTE:NASDAQ) is expected in 2022, in the readout of first data regarding its lead product KIN-2787, reported Wedbush analyst Dr. David Nierengarten in a September 14, 2022 research note. Results from two other trials involving another of its inhibitors, KIN-3248, in urothelial carcinoma and cholangiocarcinoma should follow in 2023.
Wedbush rates the California-based life sciences company Outperform. Kinnate is currently trading at about US$11.73 per share, which compares to Wedbush's target price on it of US$33 per share.
"We would be buyers of Kinnate shares ahead of these first-in-human data points," Nierengarten wrote.
Thus, Wedbush rates the California-based life sciences company Outperform. Kinnate is currently trading at about US$11.73 per share, which compares to Wedbush's target price on it of US$33 per share.
Kinnate is advancing a pipeline of proprietary kinase inhibitor product candidates targeting various cancers.
The data expected soon are from Part A of the KN-8701 study of Kinnate's RAF inhibitor, KIN-2787, in BRAF (v-raf murine sarcoma viral oncogene homolog B1)-mutated solid tumors. Part A includes patients with BRAF Class 1, 2, or 3 alterations in solid tumors and/or NRAS (neuroblastoma ras viral oncogene homolog)-mutated melanoma.
"Any efficacy in the BRAF Class 2 and 3 patient populations could support development [of KN-2787] in patients with these tumors," wrote Nierengarten.
This would be important, the analyst added, given the three approved BRAF V600E inhibitors for melanoma patients with BRAF Class 1 alterations have not shown an effect on BRAF Classes 2 and 3 alterations.
Nierengarten also pointed out that if the KIN-2787 monotherapy data show "relevant reductions in ctDNA, it will increase our confidence that KIN-2787 is an active agent."
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Disclosures For Wedbush Securities, Kinnate Biopharma Inc., September 14, 2022
Analyst Certification: We, David Nierengarten and Dennis Pak, certify that the views expressed in this report accurately reflect our personal opinions and that we have not and will not, directly or indirectly, receive compensation or other payments in connection with our specific recommendations or views contained in this report.
Company Specific Disclosures: 1. WS makes a market in the securities of Kinnate Biopharma.
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