- Truist has initiated Fusion Pharmaceuticals ( NASDAQ: FUSN ) at buy citing the potential of the company's lead candidate, FPI-1434, currently in phase 1 for solid tumors.
- The firm has a $10 price target (~217% upside based on Thursday's close).
- Analyst Nicole Germino said that initial phase 1 data for FPI-1434, which targets the cancer biomarker IGF-1R, has been promising, adding that further data in 1H 2023 could bring upside.
- She sees ~400M in peak sales for FPI-1434.
- Germino also wrote that the radiopharma company's technology platform, investment in reliable suppliers, and in-house manufacturing help differentiate it from peers.
- In 2020, Fusion entered into a partnership with AstraZeneca ( AZN ) for the development of targeted alpha therapies .
- In late August, Fusion ( FUSN ) dosed the first patient in a phase 1/2 study examining FPI-1966 in patients with advanced solid tumors .
For further details see:
Fusion Pharmaceuticals initiated at buy at Truist on lead candidate for solid tumors