BYSI - BeyondSpring climbs; H.C. Wainwright sets $100 target seeing 'a dramatic shift' in thesis'

BeyondSpring (BYSI +158.2%) has more than doubled in value to reach a two-year high in morning hours after the company said its DUBLIN-3 trial met the primary endpoint for Plinabulin and docetaxel (DP) combination in non-small cell lung cancer. Seeing “a dramatic shift in the thesis,” H.C. Wainwright has upgraded the stock to buy from neutral. The price target set to $100 implies a premium as large as ~938.4% to the last close. In the hindsight, the analyst Joseph Pantginis admits that they were “100% wrong on NSCLC,” noting that the company’s thesis was primarily driven by its program for plinabulin in hemotherapy-induced neutropenia (CIN). BeyondSpring’s (NASDAQ:BYSI) current market cap is not indicative of the value of the CIN program alone and “was not reflective at all of the NSCLC indication”, Pantginis argues. Even with today’s surge, BeyondSpring’s (BYSI) has underperformed the broader market, as illustrated in the graph. The company awaits

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BeyondSpring climbs; H.C. Wainwright sets $100 target seeing ‘a dramatic shift' in thesis’