Credit Suisse Sees Continued Operational Progress for Kite Pharma

In a report published Friday, Credit Suisse analyst Jason Kantor reiterated an Outperform rating and $34.00 price target on Kite Pharma KITE. In the report, Credit Suisse noted, “KITE continues to make progress toward an IND filing in 2014 and initiation of a pivotal study in H1:15. The ongoing NCI trial has been expanded to include DLBCL patients treated with cells that have undergone KITE's new freezing process. This is an important validation step for the freezing process because it is expected to be used in the pivotal study and in the commercial manufacuring procedure. KITE is continuing the technology transfer with its off-site manufacturing facility which will support manufacturing for the future multi-center pivotal study, and ultimately commercialization.” Kite Pharma closed on Thursday at $22.22.