HC Wainwright Believes This Cancer-Focused Stock Is Undervalued At $550M

  • HC Wainwright initiated coverage of Celularity Inc CELU with a Buy rating and a price target of $15.
  • HC Wainwright believes Celularity's current valuation of approximately $550 million is undervalued considering the upside potential of the company's platform and provides an attractive entry point for long-term investors.
  • The analyst wrote that the company had developed the IMPACT platform to manufacture multiple types of cell therapies, such as NK cells and CAR-T cells, from placental cells by taking advantage of their superior stemness and safety profile. 
  • The company is assessing CYNK-001, an unmodified NK cell therapy for acute myeloid leukemia (AML) and glioblastoma multiforme (GBM).
  • A clinical update from the study's r/r AML and MRD cohorts in 2H22 and 1Q23, respectively. The company has also initiated a Phase 1/2 study with CYNK-001 for recurrent GBM, with initial data expected in 2H 2022.
  • If successful, the analyst anticipates Phase 2 proof of concept study to start in early 2023. 
  • The analyst expects these cell therapy products to enter the market in 2025 and grow to nearly $1.4 billion on a risk-adjusted basis by 2030, with almost $300 million from CYNK-001 and $1.1 billion from CyCART-19.
  • Price Action: CELU shares are down 0.79% at $3.75 during the market session on the last check Wednesday.

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