SBTX - Silverback Therapeutics is a buy at Goldman Sachs on unique therapy platform
As the post-IPO quiet period ends for Silverback Therapeutics (SBTX), Goldman Sachs weighs in on the stock with a buy recommendation, citing the company’s unique platform targeting the immune system.The price target is $43, implying only ~14.2% upside on today’s close after the stock climbed 13.6% during the day, adding to the nearly 100% gain since its IPO.Noting the company is at the forefront of the ‘antibody-drug conjugate landscape’, Paul Choi and the team highlight the differentiated therapeutic platform of Silverback.Contrasting the traditional cytotoxic cell-killing therapies, it ‘combines the benefits of targeting a tumor with an antibody and harnessing an immune response with an immuno-oncology ("IO") agent,’ write the analysts.For its lead asset SBT6050, comprising a specific small molecule toll-like receptor 8 (TLR8) agonist conjugated to a HER2-directed monoclonal antibody, the company in September initiated a Phase 1 clinical study in adults with HER2-expressing solid tumors.The company shares popped 38% on
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Silverback Therapeutics is a buy at Goldman Sachs on unique therapy platform