EFTR - eFFECTOR Therapeutics down 22% despite positive interim results in solid tumors trial

Shares of eFFECTOR Therapeutics (NASDAQ:EFTR) are down 22% in Monday afternoon trading even though the company's released encouraging interim phase 1/2 safety results on zotatifin for solid tumors. The eIF4A inhibitor was generally well tolerated, led to suppression of multiple oncogenic drivers, and showed initial signals of clinical activity. Two partial responses were seen in heavily pre-treated ER+ breast cancer patients. eFFECTOR (EFTR) said it has expanded a cohort examining zotatifin in combination with fulvestrant in ER+ breast cancer patients to 18 patients and is planning a new cohort of zotatifin + fulvestrant in ER+ breast cancer patients with Cyclin D1 amplification. Cantor Fitzgerald's Louise Chen sees promise for zotatifin, especially in ER+ breast cancer. She has an overweight rating on eFFECTOR (EFTR) and a $50 price target (2693% upside based on Friday's close). JMP Securities reiterated its buy rating and $8 price target (~347% upside).

For further details see:

eFFECTOR Therapeutics down 22% despite positive interim results in solid tumors trial