H.C. Wainwright Reiterates Buy Rating on BioNTech (BNTX)

H.C. Wainwright analyst Raghuram Selvaraju reiterated a Buy rating and $113.00 price target on BioNTech (NASDAQ: BNTX).

The analyst commented: "Earlier this week, BioNTech and its partner, DualityBio, announced that the FDA granted Fast Track designation to BNT324/DB-1311, a topoisomerase-I-inhibitor-based ADC candidate that targets B7H3, for the treatment of mCRPC patients who have progressed on or after standard systemic regimens. This decision was based on preclinical results and preliminary efficacy and safety data from the ongoing Phase 1/2 trial (NCT05914116) in patients with advanced or metastatic solid tumors, including mCRPC. In total, the study plans to enroll approximately 90 patients with advanced/metastatic CRPC, non-small cell lung cancer, esophageal squamous cell carcinoma, melanoma, and other solid tumors in the Phase 1 portion of the trial and 190 patients in the Phase 2A portion. We reiterate our Buy rating and $113 12-month price target."

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Shares of BioNTech closed at $84.38 yesterday.

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