The Small-Cap Biotech That Could Double After New Data Is Released Mid-September
- Shares of TRACON Pharmaceuticals, Inc. (NASDAQ: TCON) have risen 16.91 percent, year to date.
- Ling Wang of Oppenheimer has maintained an Outperform rating and price target of $26 on the company.
- The company is expected to announce single-patient data for its Phase II compassionate-use study at the World Congress on Gestational Trophoblastic Neoplasia on September 15-18, 2015.
According to the Oppenheimer report, “The data will be derived from a single patient with refractory and metastatic choriocarcinoma who was treated with TRC105+Avastin.”
Wang believes that choriocarcinoma is the ideal disease model to test the drug and mentioned that if positive activity was demonstrated, there would be potential for “further clinical development in this ultra-orphan indication.”
There are an estimated 200 new cases of choriocarcinoma every year in the US. At present, there are very few second-line treatment options for patients who fail front-line treatment. “TRC105, a potent and highly selective endoglin inhibitor, has the potential to be a second-line choice for choriocarcinoma patients, nearly all of whom overexpress endoglin,” Wang stated.
Apart from the Phase II data for TRC105, other upcoming catalysts for the stock include updated data on Phase II sarcoma study for TRC105+Votrient, expected in early 2016, and updated data for Phase II RCC for TRC105+Inlyta, expected in mid-2016.
Latest Ratings for TCON
|Aug 2016||BTIG Research||Initiates Coverage on||Buy|
|Jul 2015||Roth Capital||Initiates Coverage on||Buy|
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