Emily Bodnar, an analyst from H.C. Wainwright, maintained the Buy rating on Genelux Corp. (GNLX – Research Report). The associated price target was raised to $31.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Emily Bodnar’s rating is based on the promising developments surrounding Genelux Corp.’s lead product candidate, Olvi-Vec. The recent preliminary data from the Phase 1b/2 study in small cell lung cancer (SCLC) showed encouraging results, with a high disease control rate and tumor reduction in patients, indicating potential efficacy over the standard of care. Additionally, Olvi-Vec has demonstrated a favorable safety profile, with no maximum tolerated dose reached, which supports further clinical development.
Moreover, the company’s ongoing trials in non-small cell lung cancer (NSCLC) and ovarian cancer are progressing well, with interim data expected soon. The positive feedback from the FDA regarding the Phase 3 ovarian cancer trial further bolsters confidence in Olvi-Vec’s potential to achieve regulatory approval. These factors collectively suggest a strong growth outlook for Genelux Corp., justifying the Buy rating.