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SeeThruEquity Issues Company Note on TapImmune Highlighting Valuation as Compared with Peers

New York, NY / ACCESSWIRE / July 1, 2014 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced that it has issued a company note on TapImmune Inc. (TPIV).

“TapImmune is a clinical-stage immunotherapy specializing in the development of innovative peptide and gene-based immunotherapeutics and vaccines for the treatment of oncology and infectious disease. TapImmune is also exploiting the emerging field of vaccinomics for the development of vaccines applicable to a broad patient population. We feel that TapImmune represents a compelling value at its current market cap of $26.6mn, particularly given some recent comparable events such as the Kite Pharma IPO and J&J’s acquisition of Aragon Pharmaceuticals. We are reiterating our price target of $6.97 per share,” stated Ajay Tandon, Chief Executive Officer of SeeThruEquity.

Highlights of the note are as follows:

- Kite Pharma IPO. Kite Pharma, Inc. (NASDAQ:KITE) recently completed its IPO on June 20, 2014. KITE is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel cancer immunotherapy products. KITE plans to conduct a Phase I/II clinical trial in 2015 for its lead product candidate KTE-C19, a chimeric antigen receptor (“CAR”)-based therapy, in patients with relapsed/refractory diffuse large B cell lymphoma, or DLBCL. KITE is also currently funding a Phase II clinical trial of a T cell receptor (“TCR”)-based product candidate and multiple Phase I/IIa clinical trials on CAR- and TCR-based product candidates each conducted by the National Cancer Institute (“NCI”). KITE priced 7.5mn shares at $17 for its IPO, and closed at $29. With 37.2mn shares outstanding, KITE has a market capitalization of $1.1bn. We feel that TPIV compares very favorably to KITE in terms of pipeline strength, phase of development, quality of collaborators and attractiveness of end markets for its therapies.

- Galena Biopharma rises on enrollment. On June 17, 2014, Galena Biopharma, Inc. (NASDAQ:GALE) a biopharmaceutical company developing and commercializing innovative, targeted oncology treatments, announced the completion of enrollment in its Phase IIa clinical trial for GALE-301, or Folate Binding Protein (“FBP”) peptide immunotherapy. The Phase IIa is an open-label trial with two arms consisting of HLA-A2 positive patients treated with the FBP peptide plus GM-CSF and an observational control group of HLA-A2 negative patients. The trial has completed enrollment of 45 patients. After an initial induction series of six vaccinations given once per month, patients will be administered booster inoculations at two subsequent 6-month intervals. Shares of GALE, with a market capitalization of approximately $359 million, rose almost 40% from its recent closing lows of $2.19 on June 3, to $3.05 on the day of the announcement. TPIV is completing two phase I studies and we expect the company to commence two phase Ib/II studies in 4Q14E. This should provide steady news flow around the name in the coming quarters.

- Johnson & Johnson buys Aragon Pharmaceuticals. Although it is not recent, we also point out Johnson & Johnson’s (NYSE:JNJ) June 2013, purchase of privately held Aragon Pharmaceuticals, Inc. Aragon is a pharmaceutical discovery and development company focused on drugs to treat hormonally-driven cancers. Aragon received an initial cash payment of $650mn, with additional payments of up to $350mn for achieving specified milestones.

The note is available here: TPIV Company Note. SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack’s. The report will also be available on these platforms.

Please review important disclosures on our website at http://www.seethruequity.com/.

About TapImmune Inc.

TapImmune Inc. is an immunotherapy company specializing in the development of innovative vaccine technologies for the treatment of cancer and infectious disease. The Company’s vaccine compositions, peptide or nucleic acid-based, comprise one or multiple naturally processed epitopes (NPEs) designed to comprehensively stimulate a patients’ killer T-cells, helper T-cells and to restore or further augment antigen presentation by the modulation of TAP (Transporter associated with Antigen Processing). The Company believes that its vaccine compositions may be used as stand-alone medications or in combination with current treatment modalities. Please visit the Company’s website at http://www.tapimmune.com/ for details.

About SeeThruEquity

SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. We do not conduct any investment banking or commission based business. We are approved to contribute our research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zacks and distribute our research to our database of opt-in investors. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street.

For more information visit http://www.seethruequity.com/.


Ajay Tandon
(646) 495-0939

Source: SeeThruEquity