Analyst Jason McCarthy of Maxim Group maintained a Buy rating on Genelux Corp. (GNLX – Research Report), retaining the price target of $10.00.
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Jason McCarthy has given his Buy rating due to a combination of factors that highlight the potential of Genelux Corp.’s lead asset, Olvi-Vec. The company is currently advancing a pivotal Phase 3 trial for Olvi-Vec in ovarian cancer, with top-line data expected in the first half of 2026. This trial is significant as previous Phase 2 data showed promising response rates and progression-free survival benefits, suggesting a strong therapeutic potential.
Additionally, Genelux’s ongoing lung cancer programs, including a Phase 1b/2 study in small cell lung cancer and a Phase 2 trial in non-small cell lung cancer, have shown positive initial results, further supporting the company’s systemic strategy. With a solid financial position, including $35.1 million in cash and short-term investments, Genelux is well-positioned to continue its development efforts. The valuation model anticipates commercialization of Olvi-Vec in the US market by 2026 for ovarian cancer and by 2028 for NSCLC, with a 12-month price target of $10, reflecting the company’s growth potential.
In another report released yesterday, Benchmark Co. also maintained a Buy rating on the stock with a $23.00 price target.