Yi Chen, an analyst from H.C. Wainwright, reiterated the Buy rating on Alpha Tau Medical Ltd (DRTS – Research Report). The associated price target is $9.00.
Yi Chen’s Buy rating for Alpha Tau Medical Ltd. (DRTS) is based on several pivotal factors. One of the most crucial elements to consider is the advancement of the company’s pancreatic cancer trials in both Israel and Canada. The first of such patients with an inoperable form of the disease has already been treated in a clinical study at Hadassah Medical Center in Jerusalem. Further, the Israeli trial is now open for enrollment, with all future patients to be initially screened for this study. Alpha Tau Medical also oversees an ongoing trial in Montreal, Canada, which is expected to disclose preliminary safety and feasibility results from the first five patients by the end of 2023.
The firm also has plans to introduce new studies for additional indications during 2023, inclusive of a liver cancer feasibility trial in Canada. Results from a pivotal trial for head and neck cancer are set to be submitted to Japan’s PMDA for potential marketing authorization in the near future. Another significant factor is the U.S. multi-center pivotal trial (ReSTART) that has begun patient treatment and is on track to complete enrollment in the first quarter of 2024. Chen also notes the impressive results from Alpha DaRT in patient trials, where a considerable majority of treated lesions showed a complete response leading to long-term tumor control. This gives rise to the expectation that the company could submit a PMA application for Alpha DaRT to the FDA in 2024 for marketing clearance in the U.S.
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Alpha Tau Medical Ltd (DRTS) Company Description:
Alpha Tau is an Israel-based medical device company focusing on the research, development, and potential commercialization of the Alpha DaRT (Diffusing Alpha-emitters Radiation Therapy) for the treatment of solid tumors.
Read More on DRTS:
- Alpha Tau treats first patient with inoperable pancreatic cancer
- Alpha Tau Treats First Patient with Advanced Inoperable Pancreatic Cancer at Israel’s Hadassah Medical Center
- Alpha Tau files to sell 1.1M ordinary shares for holders
- Alpha Tau data adds to ‘robust list of evidence,’ says Cantor Fitzgerald
- Alpha Tau Medical Announces Second Quarter 2023 Financial Results and Provides Corporate Update
