Maxim Group analyst Jason McCarthy has maintained their bullish stance on GNLX stock, giving a Buy rating yesterday.
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Jason McCarthy’s rating is based on several compelling factors surrounding Genelux Corp. and its lead asset, Olvi-Vec. The company is positioned well within the oncolytic virus (OV) space, which is gaining momentum and investor interest, particularly following positive developments from other players like Replimune. The acceptance of Replimune’s BLA resubmission by the FDA is seen as a positive indicator for the OV sector, potentially benefiting companies like Genelux.
Genelux’s Olvi-Vec is considered a potentially best-in-class OV due to its unique delivery methods and broad immune response impact. The ongoing Phase 3 trial in ovarian cancer, which includes a promising combination therapy, has shown positive prior data, partially de-risking the trial. Additionally, upcoming data from lung cancer programs and the expected cash runway into the second half of 2026 further support the Buy rating. These factors, combined with a lowered revenue risk adjustment, have led to an increased price target for Genelux’s stock.
In another report released yesterday, Lake Street also initiated coverage with a Buy rating on the stock with a $16.00 price target.
GNLX’s price has also changed dramatically for the past six months – from $2.700 to $6.720, which is a 148.89% increase.