Genelux initiated with a Buy at H.C. Wainwright

H.C. Wainwright analyst Emily Bodnar initiated coverage of Genelux with a Buy rating and $35 price target. Olvi-Vec, the company’s lead oncolytic virus, is a genetically modified vaccinia virus in development for both locoregional and systemic delivery for treatment of various solid tumors, the analyst tells investors in a research note. The firm says Genelux’s vaccinia viruses “have many desirable characteristics,” including ability to infect nearly any cancer cell, large insertion capacity, high genetic stability, and robust cell lysis capabilities.