- SVB Leerink initiated coverage on CTI Biopharma Corp (NASDAQ:CTIC) with an Outperform rating and a $13 price target.
- CTIC is a commercial-stage biopharmaceutical company launching Vonjo — a differentiated, next-generation JAK inhibitor for myelofibrosis.
- SVB thinks Vonjo will transform the treatment paradigm and offer blockbuster sales potential.
- “In contrast to other targeted oncology launches, we think Vonjo will surpass expectations based on results from our proprietary MEDACorp survey of myelofibrosis-treating physicians, indicating a surprising potential for off-label usage,” the analyst writes.
- The price target indicates upwards of 170% upside from current levels, which can be realized as the commercial story unfolds over the next several years.
- While CTIC represents a SMID-cap company launching a product against large commercial players like Incyte Corp (NASDAQ:INCY) and GSK Plc (NYSE:GSK), the analyst thinks the competition has weaknesses.
- Incyte remains distracted with its dermatology launches, while Jakafi combination approaches remain multiple years away from market entry.
- GSK’s momelotinib will likely not enter the market until mid-2023 and has safety concerns.
- Price Action: CTIC shares are up 2.24% at $4.78 on the last check Monday.
Rail Vision Receives Patent Approval From The Indian Patent Office Titled “System And Method For Object And Obstacle Detection And Classification In Collision Avoidance Of Railway Applications
India has the fourth largest railway network with over 22,593 operating trains with a daily passenger count of 24 million passengers and 203.88 million tons of freightRa'anana, Israel, Feb. 05, 2024 (GLOBE NEWSWIRE) --
