- At the European Hematology Association (EHA) meeting, Oncternal Therapeutics Inc (NASDAQ:ONCT) presented initial preclinical results of Oncternal's ROR1 CAR containing the antigen-binding region of zilovertamab.
- The data showed that The ROR1 CAR mediated target recognition and cell activation when expressed in either T cells or NK cells.
- Also, ROR1 CAR-T cells demonstrated dose-dependent anti-tumor activity in a mantle cell lymphoma mouse model.
- It reiterates the Buy rating and a price target of $8 per share.
- "From our vantage point, the continued robustness of the clinical efficacy data for zilovertamab, underscores the extent to which Oncternal appears undervalued," writes HC Wainwright.
- Also Read: Oncternal Discontinues Enrollment In ONCT-216 Study For Soft Tissue Cancer.
- According to the analysts, despite the company's negative enterprise value, zilovertamab's longitudinal efficacy data combined with ibrutinib demonstrates an increased likelihood of regulatory and possibly commercial success.
- Oncternal intends to initiate a Phase 1 trial for its antiROR1 CAR T therapy (ONCT-808) by year-end. HC Wainwright views it as a potential driver of future upside to projections though currently not included in the model.
- Price Action: ONCT shares are down 8.94% at $1.12 during the market session on the last check Monday.
