ATNM - Actinium maintained at outperform at William Blair following Immedica Pharma deal

William Blair is maintaining Actinium Pharmaceuticals at outperform after the company's license and supply agreement with Immedica Pharma AB for Iomab-B. That agreement, announced Tuesday, provides Actinium (NYSE:ATNM) with a $35M upfront payment and up to $417M in  milestone payments. "The collaboration adds validation to the clinical pathway of Iomab-B and the Phase III SIERRA trial that is slated to read out in the third quarter," wrote analyst Andy Hsieh. He added that assuming those results are positive, he would expect Actinium (ATNM) to file a drug application with the U.S. FDA for the candidate in the first half of 2023. Alliance Global Partners also maintained its buy rating and raised its price target on Actinium to $25 from $20 (281% upside based on Tuesday's close). Iomab-B is under development as an induction and conditioning agent in patients with acute myeloid leukemia prior to receiving a bone marrow transplant. Read

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Actinium maintained at outperform at William Blair following Immedica Pharma deal