Analyst Salveen Richter said she expects the company's chief compliance officer Shawn Tomasello to shed light on payor discussions, Kite's market research and the potential launch trajectory at the R&D day to be held in New York on October 18. The analyst also expects to have more clarity on capacity at launch.
Additionally, the analyst expects the company to disclose its first target from the Amgen, Inc. AMGN CAR T collaboration and provide an overview of the second wave of KTE-C19 indications.
Analyzing the trial results, Goldman Sachs noted that ZUMA-1 phase 2 interim pivotal data showed a three-month CR rate of 33 percent. The firm expects to see durability of at least six months in the full presentation scheduled for December 3–6. If the Phase 1 precedents translates to Phase 2, the firm believes a FDA approval of KTE-C19 is likely.
Goldman Sachs has a Buy rating on the shares of the company and a $70 price target.
At last check, shares of Kite Pharma were up 0.13 percent at $55.73.
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