Replimune initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage of Replimune (REPL) with an Overweight rating and no price target ahead of RP1’s FDA action date of July 22 in advanced melanoma. The firm sees a “clearer path” for accelerated approval of RP1 citing positive regulatory signs, including breakthrough therapy designation, no panel meeting, and completion of a late-cycle inspection. Physicians perceive RP1 as having a competitive risk/benefit profile relative to available options, says Cantor, which projects $497M in adjusted sales of RP1 by 2030, and $828M by 2040.