Boundless Bio initiated with an Outperform at Leerink

Leerink analyst Andrew Berens initiated coverage of Boundless Bio with an Outperform rating and $25 price target. Boundless Bio is a clinical-stage company focusing on tumors that are driven by gene amplifications, alterations that have historically been very difficult to treat, the firm notes. The company has two programs in the clinic, a CHK1 inhibitor and an RNR inhibitor. Both agents have been shown to have activity in rapidly dividing tumors with high levels of replication stress and amplifications, which make them amenable to synthetic lethality approaches, Leerink adds.