AstraZeneca is set to release its third-quarter 2024 earnings on Tuesday, with investors eager to see continued growth in its oncology and cardiovascular divisions. The company’s strong second-quarter performance, driven by key drugs like Tagrisso, Imfinzi, Calquence, and Farxiga, has fueled optimism for the upcoming report.
ADC Therapeutics, a biotech company developing antibody-drug conjugates (ADCs) for cancer treatment, faces a competitive oncology market. However, an analyst at Stephens believes its lead drug, Zynlonta, has significant potential and predicts a 100% upside. The analyst’s optimism stems from Zynlonta’s promising efficacy and the company’s broad pipeline of ADCs.
Bionomics Ltd’s ADR shares (BNOX) have soared by 177% to 53 cents following a $1 million milestone payment from Carina Biotech for their partnered oncology program, BNC101. This payment, tied to a 2020 license agreement, underscores the potential of BNC101, a monoclonal antibody targeting cancer stem cells. The news also highlights Bionomics’ ongoing research strength and strategic partnerships, including their collaboration with Merck on an Alzheimer’s therapy.
JMP Securities initiated coverage on Summit Therapeutics, highlighting the potential of their oncology drug Ivonescimab (PD-1 X VEGF bispecific) in treating lung cancer. The drug has shown promising results in clinical trials, outperforming leading treatments like Keytruda and Opdivo. With numerous Phase 3 studies underway and strong head-to-head data, Ivonescimab could become a significant player in the NSCLC market, potentially generating billions in revenue.
Tevogen Bio Holdings Inc. (TVGN) has announced a bullish revenue forecast for its oncology pipeline, projecting $1 billion in revenue during its launch year and a cumulative 5-year estimate of $10 billion to $14 billion. This optimistic outlook stems from the company’s innovative drug development model, which aims to accelerate and streamline the process. The company’s stock surged in response to this news, reflecting investor confidence in its potential.
IGM Biosciences is pivoting its strategy to focus on developing T cell-engaging IgM antibodies for autoimmune diseases. The company will cut spending on its oncology programs, including aplitabart, and reduce its workforce. This strategic shift comes as IGM sees significant potential in the autoimmune space and aims to extend its cash runway into 2027.
Foghorn Therapeutics (FHTX) shares rallied significantly after announcing robust second-quarter financial results and promising updates on its oncology pipeline. However, despite the recent jump, analysts remain cautious due to a negative trend in earnings estimate revisions.
Sanara MedTech Inc. (SMTI) has entered into an exclusive U.S. distribution agreement with ChemoMouthpiece, LLC, to bring the company’s oral cryotherapy device to oncology patients. The deal highlights Sanara’s focus on expanding its skincare portfolio and is expected to drive positive market sentiment. Sanara’s investment in ChemoMouthpiece and the potential purchase option for its U.S. business underscore the company’s commitment to this strategic partnership.
The global companion diagnostic tests in oncology market is projected to skyrocket, reaching US$ 17.0 billion by 2034. This growth is fueled by the increasing use of these tests in personalized cancer therapies, with advancements in genomic profiling, liquid biopsies, and AI further propelling the market forward.
RBC Capital has initiated coverage on Bicycle Therapeutics PLC (BCYC), highlighting the potential of its lead program, Zelenectide pevedotin (zele), in the oncology market. The analyst believes that Zele’s improved safety profile compared to Padcev, a competing drug for metastatic urothelial cancer (mUC), could lead to greater antitumor durability and a substantial market share. Furthermore, the analyst sees potential for Zele in other solid tumors, such as triple-negative breast cancer and non-small cell lung cancer, with an estimated peak global sales of $2 billion in 2033.
