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.
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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.