Published on 7 Oct 2022 on Benzinga via Yahoo Finance
HC Wainwright Initiates Aptorum On Upcoming "Innovative Pipeline"
HC Wainwright initiated coverage on Aptorum Group Limited (NASDAQ: APM) with a Buy rating and a price target of $8.The analyst is bullish on Aptorum based on three points:Promising preclinical efficacy of lead product candidate ALS-4, both on a standalone basis and in combination with standard of care vancomycin, against Staphylococcus aureus (SA) infection.Blockbuster potential of SACT-1’s in vivo neuroblastoma tumor reduction effects in combination with SOC chemotherapyThe significant potential of the company’s nascent programs and ongoing collaborations to generate future value and importantly, near-term revenues.Related: Aptorum Highlights Updates On Clinical Validation of RPIDD Infectious Disease Molecular Diagnostics.With Aptorum’s market cap of $39 million, the analyst believes revenues from Aptorum’s recent launch of NativusWell in Hong Kong de-risk concerns related to near-term financing needs.HC Wainwright thinks the shares are an attractive value proposition ahead of initiation of a Phase 2a trial of ALS-4 in patients with SA infections, Phase 1b/2a study with SACT-1 in neuroblastoma, and expansion of NativusWell commercialization viewed as positive catalysts by year-end 2022 or early 1Q23.Price Action: APM shares are up 4.40% at $0.9292 on the last check Friday.
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