Genelux initiated with a Buy at Roth MKM

Roth MKM analyst Benjamin Paluch initiated coverage of Genelux with a Buy rating and $10 price target. While there is risk heading into the pivotal ovarian cancer readout next year, regionally-delivered Olvi-Vec is positioned to succeed in platinum resistant/refractory disease, the analyst tells investors in a research note. The firm also sees value in systemically-administered Olvi-Vec for treating recurrent lung cancer with interim readouts later this year and mid-2025. These have a chance to succeed “and reprice the stock,” contends Roth.