PFE - Challenging Road Ahead for Cancer Drugs Nuvalent Seeks to Break the Mold | Benzinga
Stifel initiated coverage on Nuvalent Inc (NASDAQ: NUVL), recognizing that adopting a bullish stance in anticipation of Phase 1 cancer drug data, mainly when derived from heavily pretreated patients, has proven unprofitable for approximately two years.
The analyst keeps the price target of $65, with a Buy rating.
The analyst notes that historically, such updates have resulted in low Objective Response Rates (ORRs) and short-lived efficacy, rendering late-stage market sales relatively inconsequential.
Moreover, these drugs have often failed to distinguish themselves from entrenched, highly effective first-line (1L) standards of care.
However, a noteworthy exception arises in ALK+ Non-Small Cell Lung Cancer (NSCLC), where the preference for the older-generation TKI, Genetech's Alecensa (alectinib), persists over the considerably more potent Pfizer ...