H.C. Wainwright Reiterates Buy Rating on BiomX (PHGE)

H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating and $2.00 price target on BiomX (NYSE: PHGE).

The analyst commented: "BiomX announced 3Q24 financial results on November 14, posting EPS of $0.31 compared with our estimate of ($0.06). The difference is mainly due to the change in the fair value of the warrants issued as part of the recent financing in March 2024. The company ended the quarter with $24.7 million in cash. Management believes available cash should provide runway for ongoing operations through 4Q25. BiomX remains focused on the clinical advancement of its two lead assets, BX211 for the treatment of diabetic foot osteomyelitis (DFO) and BX004, which is in development for the treatment of chronic pulmonary infections in CF patients. Recent updates and upcoming catalysts include: 1) BX211: The company recently completed enrollment in the Phase 2 study evaluating the safety, tolerability, and efficacy of BX211 in patients with DFO associated with S. aureus. The company remains on track to report the first readout in 1Q25, which will focus on top-line results at week 13 evaluating healing of the wound associated with osteomyelitis. The second readout is expected in 1Q26, which will happen at week 52 evaluating amputation rates and resolution of osteomyelitis based on X-ray, clinical assessments, and established biomarkers (Erythrocyte Sedimentation Rate and C-Reactive Protein); and 2) BX004: Recall, the company announced positive safety and efficacy results from its Phase 1b/2a trial evaluating BX004 in chronic pulmonary infections caused by P. aeruginosa in CF patients. The company recently held a Type C meeting with the FDA to discuss BX004 clinical development. Management notes the meeting was successful and study plans remain unchanged moving forward. Due to manufacturing delays however, the topline data from this study are now expected by 1H26. Reiterate Buy rating and $2 PT."

For an analyst ratings summary and ratings history on BiomX click here. For more ratings news on BiomX click here.

Shares of BiomX closed at $0.75 yesterday.

You May Also Be Interested In