Stifel Nicolaus analyst Laura Prendergast has maintained their bullish stance on BDTX stock, giving a Buy rating yesterday.
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Laura Prendergast’s rating is based on the promising preliminary data from Black Diamond Therapeutics’ Phase 2 trial of silevertinib in first-line non-small cell lung cancer (NSCLC) with EGFR non-classical mutations. The trial demonstrated an overall response rate (ORR) of 60%, meeting expectations, and an impressive central nervous system (CNS) ORR of 86%, which is considered best-in-class. These results are particularly significant given the broad spectrum of EGFR mutations included in the study, reflecting a real-world population.
Additionally, the company’s strategy to explore partnership opportunities for the pivotal development of silevertinib in NSCLC and the initiation of a Phase 2 study in glioblastoma multiforme (GBM) further supports the Buy rating. Despite the higher-than-expected frequency of adverse events leading to dose reductions, the responses remained robust, indicating the drug’s potential efficacy. The company’s cash runway into the second half of 2028 also provides financial stability beyond key clinical milestones, making it an attractive investment opportunity.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $10.00 price target.