DRTS - Alpha Tau Medical gains as Citi initiates coverage with a Buy rating

The shares of Israeli medical device company Alpha Tau Medical (DRTS +13.1%) have ended a three-day slide after Citi started its coverage with a Buy recommendation highlighting the prospects of its alpha radiation-based cancer therapy, Alpha DaRT. Comparing alpha radiation with beta or gamma radiation, which is commonly used in other radiation therapies, the analyst Neena Bitritto-Garg argues that the former has a more potent anti-tumor effect with limited destruction on surrounding tissues. “We think Alpha DaRT is well-positioned to become a go-to local radiation option for multiple superficial and internal tumor types not adequately addressed by existing options,” the analyst added. The price target set to $21 per share implies a premium of ~99% to the last close. Alpha Tau (NASDAQ:DRTS) plans to begin a multi-center U.S. pivotal trial for Alpha DaRT by the middle of this year to evaluate its potential in skin cancer.

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Alpha Tau Medical gains as Citi initiates coverage with a Buy rating