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Original-Research: Lisata Therapeutics Inc - from First Berlin Equity Research GmbH
Classification of First Berlin Equity Research GmbH to Lisata Therapeutics Inc
First Berlin Equity Research on 21/01/2025 initiated coverage on Lisata Therapeutics, Inc. (ISIN: US1280583022/ Bloomberg: LSTA US). Analyst Christian Orquera placed a BUY rating on the stock, with a USD 15.00 price target. Abstract: Lisata Therapeutics Inc (Lisata), previously Caladrius Biosciences and renamed after the merger with Cend Therapeutics in 2022, is a US clinical-stage pharmaceutical company focused on the development of innovative therapies for the treatment of advanced solid tumours and other serious diseases. Its lead drug candidate, certepetide, is a peptide with a dual mode of action which (1) enhances penetration of co-administered anti-cancer drugs into solid tumours and (2) modifies the tumour microenvironment (TME) by reducing immunosuppressive cell populations, such as regulatory T cells (Tregs), and increasing cytotoxic T cells. This modulation has the potential to enhance the efficacy of chemo- and immunotherapies and concurrently inhibit the progression of metastasis, making certepetide an ideal combination with standard cancer therapy. The drug candidate is in clinical development in seven trials for a number of indications: (1) 1st and 2nd line metastatic pancreatic ductal adenocarcinoma (mPDAC), (2) locally advanced non-resectable PDAC, (3) 1st and 2nd line cholangiocarcinoma, (4) 1st line glioblastoma multiforme and (5) pancreatic, colon and appendiceal cancer. In addition, Lisata has licensed the exclusive rights for certepetide in Greater China to Qilu Pharmaceuticals under a lucrative agreement with potential milestone payments of up to USD221m. Qilu conducted a phase 1b/2a study and is now carrying out a phase 2 study in the lead 1st line mPDAC indication. Lisata's own ongoing two-cohort ASCEND phase 2b study in 1st line mPDAC is expected to report results from the first cohort in January 2025 and from the second cohort by Q2/Q3 2025. We see 2025 as an exciting year for Lisata as we also expect results on the other ongoing trials of certepetide, which will likely act as a catalyst for the share price. Our sum-of-the-parts valuation model yields a price target of USD15.00. We initiate coverage of Lisata with a Buy recommendation. First Berlin Equity Research hat am 21.01.2025 die Coverage von Lisata Therapeutics, Inc. (ISIN: US1280583022/ Bloomberg: LSTA US) aufgenommen. Analyst Christian Orquera stuft die Aktie mit einem BUY-Rating ein, bei einem Kursziel von USD 15,00. Zusammenfassung: Lisata Therapeutics Inc (Lisata), vormals Caladrius Biosciences und nach der Fusion mit Cend Therapeutics im Jahr 2022 umbenannt, ist ein US-amerikanisches Pharmaunternehmen im klinischen Stadium, das sich auf die Entwicklung innovativer Therapien für die Behandlung fortgeschrittener solider Tumore und anderer schwerer Krankheiten konzentriert. Der am weitesten fortgeschrittene Medikamentenkandidat Certepetide ist ein Peptid mit einer doppelten Wirkungsweise, das (1) das Eindringen von gleichzeitig verabreichten Krebsmedikamenten in solide Tumore verbessert und (2) die Mikroumgebung des Tumors (TME) verändert, indem es immunsuppressive Zellpopulationen wie regulatorische T-Zellen (Tregs) reduziert und zytotoxische T-Zellen erhöht. Diese Modulation hat das Potenzial, die Wirksamkeit von Chemo- und Immuntherapien zu verbessern und gleichzeitig das Fortschreiten der Metastasierung zu hemmen, was Certepetide zu einer idealen Kombination mit der Standardkrebstherapie macht. Der Medikamentenkandidat befindet sich in sechs klinischen Studien für eine Reihe von Indikationen: (1) metastasierendes duktales Adenokarzinom der Bauchspeicheldrüse (mPDAC) in der ersten und zweiten Behandlungslinie, (2) lokal fortgeschrittenes, nicht resektables PDAC, (3) Gallengangskarzinom in der ersten und zweiten Behandlungslinie, (4) Glioblastoma multiforme in der ersten Behandlungslinie und (5) Bauchspeicheldrüsen-, Dickdarm- und Blinddarmkrebs. Darüber hinaus hat Lisata die Exklusivrechte für Certepetide im Großraum China an Qilu Pharmaceuticals im Rahmen einer lukrativen Vereinbarung mit potenziellen Meilensteinzahlungen von bis zu USD 221 Mio. lizenziert. Qilu hat eine Phase-1b/2a-Studie durchgeführt und führt nun eine Phase-2-Studie in der Hauptindikation mPDAC in der Erstlinie durch. Lisatas eigene laufende Phase-2b-Studie ASCEND mit zwei Kohorten in der Erstlinienbehandlung von mPDAC wird voraussichtlich im Januar 2025 Ergebnisse der ersten Kohorte und im zweiten/ dritten Quartal 2025 Ergebnisse der zweiten Kohorte liefern. Wir sehen 2025 als ein spannendes Jahr für Lisata, da wir auch Ergebnisse der anderen laufenden Studien zu Certepetide erwarten, die wahrscheinlich als Katalysator für den Aktienkurs wirken werden. Unser Sum-of-the-parts-Bewertungsmodell ergibt ein Kursziel von USD15,00. Wir beginnen die Coverage von Lisata mit einer Kaufempfehlung. Bezüglich der Pflichtangaben gem. §85 Abs. 1 S. 1 WpHG und des Haftungsausschlusses siehe die vollständige Analyse. You can download the research here: http://www.more-ir.de/d/31645.pdf Contact for questions: First Berlin Equity Research GmbH Herr Gaurav Tiwari Tel.: +49 (0)30 809 39 686 web: www.firstberlin.com E-Mail: g.tiwari@firstberlin.com
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2071917 21.01.2025 CET/CEST
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