In a report released on September 30, David Martin PhD from Bloom Burton maintained a Buy rating on Medicenna Therapeutics Corp, with a price target of $6.00.
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David Martin PhD has given his Buy rating due to a combination of factors related to Medicenna Therapeutics Corp’s promising developments. The company is expected to release significant updates on their ABILITY-1 phase 1/2 trial results in the fourth quarter of 2025, which includes both monotherapy and combination therapy with pembrolizumab.
The trial targets various cancers such as cutaneous melanoma and other tumors with high mutational burdens or specific genetic deficiencies. The anticipated outcomes are crucial, as achieving an objective response rate of 30% in these trials would position Medicenna favorably for a phase 2 registrational trial, similar to the success seen with Iovance’s TIL therapy. This potential for advancement in cancer treatment underpins the Buy rating.
Martin PhD covers the Healthcare sector, focusing on stocks such as Aurinia Pharmaceuticals, DRI Healthcare, and Conavi Medical. According to TipRanks, Martin PhD has an average return of 17.6% and a 51.57% success rate on recommended stocks.