In a report released today, Emily Bodnar from H.C. Wainwright maintained a Buy rating on Imunon (IMNN – Research Report), with a price target of $14.00.
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Emily Bodnar’s rating is based on Imunon’s recent advancements in their OVATION 3 study, which is a pivotal Phase 3 trial evaluating IMNN-001, an innovative IL-12 immunotherapy for women with advanced ovarian cancer. The activation of the first trial site at Washington University School of Medicine marks a significant step forward, with additional sites expected to follow, potentially enhancing enrollment speed and interest among investigators.
Moreover, Imunon’s strategy to initially focus on HRD+ patients in the OVATION 3 trial could lead to quicker data analysis and potentially faster regulatory approval, given the promising outcomes observed in the OVATION 2 study. The company’s presentation of new data at ASCO further underscores the potential of IMNN-001 as a novel treatment option, especially in a population with limited therapeutic alternatives. The orphan status of IMNN-001 in the US and EU also provides regulatory advantages and market exclusivity, contributing to the positive outlook on the stock.
Bodnar covers the Healthcare sector, focusing on stocks such as Olema Pharmaceuticals, Femasys, and Agenus. According to TipRanks, Bodnar has an average return of -9.4% and a 27.44% success rate on recommended stocks.