Analyst Sara Nik of H.C. Wainwright reiterated a Buy rating on Cantargia AB, retaining the price target of SEK14.00.
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Sara Nik has given her Buy rating due to a combination of factors, primarily focusing on Cantargia AB’s strategic partnerships and financial health. The transformative deal with Otsuka Pharmaceutical, which included a significant upfront milestone payment, has validated Cantargia’s IL1RAP-based pipeline and significantly bolstered its financial position, providing a cash runway into early 2028. This financial stability allows the company to focus on its key clinical programs without immediate funding concerns.
Moreover, while recent data from the TNBC study did not meet primary endpoints, Sara emphasizes that the company’s value proposition is more closely tied to its PDAC and autoimmune pipeline. The readiness of nadunolimab for pivotal studies, alongside advancements in their preclinical pipeline, particularly the development of novel bispecific antibodies like CAN14, positions Cantargia for potential breakthroughs in oncology and immunology. These factors collectively underpin the Buy rating, as they indicate strong potential for future growth and innovation.