HC Wainwright Sees Over 300% Upside In This Cancer-Focused Stock

  • HC Wainwright has initiated Theseus Pharmaceuticals Inc THRX with a Buy rating and a price target of $22 (310% upside).
  • The analysts see gastrointestinal stromal tumors (GISTs) treatment space reigniting with the entrance of a Theseus' pan-KIT inhibitor THE-630, with a high likelihood of 5L approval with earlier line potential. 
  • The analysts believe THE-630 can adequately tackle resistance in GIST by using dynamic molecular touchpoints that aim to ensure retention of inhibition.
  • Related: Analysts See Huge Upside In This Newly Listed Biopharma Stock.
  • HC Wainwright believes proprietary predictive resistance assay (PRA), a novel cell-based drug screening platform sets Theseus' approach apart.
  • THE-630 is currently being evaluated in a Phase 1 trial for GIST, with an initial readout expected in 1H23. 
  • The analysts are optimistic about THE-630 demonstrating preliminary objective response rate signals based on THE-630's performance in preclinical studies.
  • The analysts note that Theseus' PRA platform has already generated multiple promising tyrosine kinase inhibitor candidates for its EGFRi program, with a planned final nomination in 3Q22. 
  • Price Action: THRX shares are down 1.99% at $5.42 during the market session on the last check Friday.
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