Can-Fite BioPharma (CANF) has received a new Buy rating, initiated by H.C. Wainwright analyst, Swayampakula Ramakanth.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Swayampakula Ramakanth has given his Buy rating due to a combination of factors including the innovative approach of Can-Fite BioPharma’s A3AR agonists, which selectively target pathogenic cells. The company’s late-stage drugs, piclidenoson and namodenoson, are being developed for psoriasis and liver cancer, respectively, and have shown promising results in clinical trials. The A3AR receptor’s role in key pathways and the drugs’ ability to downregulate proinflammatory cytokines and induce cancer cell apoptosis are significant advantages.
Moreover, both drugs have demonstrated a favorable safety profile with extensive patient exposure in trials. Piclidenoson, in particular, has shown potential in the oral psoriasis treatment market, with a pivotal Phase 3 study underway. Despite challenges in previous studies due to the COVID-19 pandemic, the drug’s safety and efficacy data remain strong. If the ongoing trials yield positive results, piclidenoson’s unique mechanism and safety could make it competitive in the market, with projected global sales growth by 2031.