Raymond James initiated coverage of BridgeBio Oncology (BBOT) with an Outperform rating and $24 price target The rating reflects promising early Phase 1 activity and safety for BBO-8520 in 1L Non-Small Cell Lung Cancer, potent and selective inhibition by pan-KRAS BBO-11818, potential differentiation of BBO-10203 in metastatic breast cancer, and strong capitalization to advance proof-of-concept updates for all assets, the analyst tells investors in a research note. Confidence is tempered by crowded competition in the KRAS inhibitor space, the firm adds.
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