Jefferies analyst Kambiz Yazdi initiated coverage of PMV Pharmaceuticals with a Buy rating and $5 price target. The company’s rezatapopt drug can create its own lane across the tumor suppressor protein P53 Y220C solid tumors and potentially receive accelerated approval, the analyst tells investors in a research note. The firm adds that it is “reinforcing” to have seen strong recruitment for a Phase 1 trial in ovarian cancer patients, also noting that PMV’s $228.6M cash provides a runway until the end of 2026.
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Read More on PMVP:
- PMV Pharmaceuticals announces first patient dosed in Phase 2 PYNNACLE trial
- PMV Pharmaceuticals Announces First Patient Dosed in Global Tumor-Agnostic Phase 2 PYNNACLE Trial for Rezatapopt in TP53 Y220C-Positive Solid Tumors
- PMV Pharmaceuticals reports promising efficacy of rezatapopt in OC study
- PMV Pharmaceuticals PYNNACLE Phase I Data of Rezatapopt in Advanced Ovarian Cancer Featured in Late-Breaking Oral Presentation at 2024 SGO Annual Meeting on Women’s Cancer
- PMV Pharmaceuticals reportsFY23 EPS ($1.44), consensus ($1.52)