In separate reports published Monday, Piper Jaffray analyst Charles C. Duncan maintained an Overweight rating on both Threshold Pharmaceuticals, Inc. (NASDAQ: THLD) and BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX), saying that these stocks were poised for "eventful next 12 months."
Threshold ended 2Q with $67M in cash, which appears to be sufficient to fund current pipeline programs into late 2016, "where we model an equity financing while conservatively assuming no success based milestone payments from existing or new partners," analyst Charles Duncan said.
Phase III readouts for evofosfamide, TH-302, in both STS, or soft tissue sarcoma, and pancreatic cancer, were on track for yearend 2015. "The next key value driver, in our view, would be progress with hypoxia-activated EGFR inhibitor tarloxotinib (TH-4000), which is expected to start a Phase II in EGFR-mutant (T790M negative) NSCLC by YE," Duncan wrote.
Piper Jaffray reiterated a price target of $12 for Threshold.
BioCryst ended 2Q15 with $132M in cash, including $34M received from CSL for RAPIVAB. Duncan believes that the cash would be sufficient to fully fund pipeline progress through the back half of 2016.
Avoralstat, or BCX4161, was on track for NDA filing for HAE in 2017, following Phase II OPuS-2 data by yearend 2015 and completion of Phase III. 2nd-gen kallikrein inhibitor BCX7353 was scheduled to report Phase I data by the end of this year, delayed from 3Q on account of "minor and not-unexpected Phase I trial adjustments," the Piper Jaffray report stated.
Duncan believes that avoralstat and '7353 would "put BioCryst solidly in the lead for a safe and effective oral option for HAE."
Piper Jaffray reiterated a price target of $18 for BioCryst.
Latest Ratings for THLD
|Sep 2014||Cantor Fitzgerald||Initiates Coverage on||Buy|
|Sep 2014||HC Wainwright||Initiates Coverage on||Buy|
|Feb 2013||Piper Jaffray||Upgrades||Neutral||Overweight|
See more from Benzinga
- Bill Gross On Rate Hike: 50 Basis Points Would Scare, 25 Is The Majority Consensus
- Why There's No Need To Keep Buying Zumiez Stock
- BTIG: 'Concerned' About Traditional Media Companies, Netflix Still Appealing
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.