Skip to main content

Market Overview

Why This Ayala Pharmaceuticals Analyst Is Bullish

Share:
Why This Ayala Pharmaceuticals Analyst Is Bullish

The Phase 2 study of Ayala Pharmaceuticals Inc’s (NASDAQ: AYLA) AL101 candidate is scheduled to begin in the back half of this year.

Although the first data from the study could come during 2021, a safety assessment of the first six patients may be available by the close of 2020, according to Raymond James.

The Ayala Pharmaceuticals Analyst: Dane Leone initiated coverage of Ayala Pharmaceuticals with an Outperform rating and $24 price target. 

The Ayala Pharmaceuticals Thesis: AL101 for adenoid cystic carcinoma (ACC) is the lead clinical program, which involves subjects with notch-activating mutations that are either newly diagnosed with metastatic ACC or have progressed after prior therapy, Leone said in the Tuesday initiation note. (See his track record here.)

Clinicians involved with the program indicate that the candidate’s 4mg dosage is well-tolerated, and that the 6mg dosage could improve clinical response, the analyst said. 

AL101 will also be evaluated for the treatment of heavily pre-treated patients with triple-negative breast cancer and notch-activating mutations. Since the Phase 1 study results involved a combination agent approach, the data is difficult to interpret for the dosage being used in the Phase 2 study, he said. 

The objective response rate of around 36% compares favorably with the standard of care, Leone said. 

While Ayala Pharmaceuticals is developing AL102 as an oral, selective gamma secretase inhibitor for desmoid tumors and multiple myeloma, this is not included in the estimates, the analyst said. 

AYLA Price Action: Shares of Ayala Pharmaceuticals were up 2.11% at $14.50 at the time of publication Wednesday.

Related Links:

The Week Ahead In Biotech: ASCO, Menlo And Merck FDA Decisions, IPOs In The Spotlight

The Daily Biotech Pulse: Keytruda Setback For Merck, Denali Pulls The Plug On Neurological Asset

Latest Ratings for AYLA

DateFirmActionFromTo
Dec 2020Roth CapitalInitiates Coverage OnBuy
Dec 2020Noble Capital MarketsInitiates Coverage OnOutperform
Jun 2020Raymond JamesInitiates Coverage OnOutperform

View More Analyst Ratings for AYLA
View the Latest Analyst Ratings

 

Related Articles (AYLA)

View Comments and Join the Discussion!

Posted-In: Dane Leone Raymond JamesAnalyst Color Biotech Price Target Initiation Analyst Ratings General Best of Benzinga

Latest Ratings

StockFirmActionPT
SAMEvercore ISI GroupMaintains1,500.0
SEAutonomous ResearchInitiates Coverage On378.0
ALHCMorgan StanleyInitiates Coverage On36.0
ALHCRaymond JamesInitiates Coverage On30.0
HAEMorgan StanleyDowngrades83.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com