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Forty Seven's chief cancer therapy shows commercial potential, says Oppenheimer analyst

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The lead cancer therapy of Forty Seven Inc (NASDAQ: FTSV), the clinical-stage immune-oncology company has considerable commercial potential and investors should consider plowing money into the company’s shares, says Mark Breidenbach, a widely-followed analyst with Oppenheimer.

The Menlo Park, California-based company’s main drug candidate is 5F9, an antibody that fights against CD47, a protein which is present in numerous cases of cancer and can diminish a cancerous tumor’s ability to evade attack.

Breidenbach argues that 5F9 has accumulated “significant experience in the clinic” and a safety profile that should dispel any lingering concerns about its toxicity. He calls Forty Seven a pioneer of CD47 biology and makes the case that its lead therapy 5F9 holds the edge over its competitors in this competitive area.

He is sticking to an Outperform rating and a US$35 price target on the shares.

“5F9 could provide a viable alternative to CAR-T therapies, and the drug has shown highly encouraging signs of activity in Pt-resistant ovarian cancer patients,” he wrote in a note to investors. “When paired with indication-appropriate therapeutic antibodies, 5F9 could become a mainstay component of combination regimens for solid and liquid tumors.”

5F9 made a splash at last June’s annual meeting of the American Society of Clinical Oncology and provided an engine for Forty Seven’s initial public offering in late June, which raised US$129.4mln in gross proceeds.

Future clinical updates could further derisk 5F9

Breidenbach predicts that clinical updates over the next 12 to 18 months from Forty Seven could further derisk 5F9′s development as a key therapy for a variety of cancers.

Forty Seven is a clinical stage immune-oncology company focused on developing therapies to activate cancer-killing immune cells called macrophages in the fight against cancer.

The protein CD47 inhibits the ability of macrophages to attack cancerous tumors. It is overexpressed on many cancer cells, which stops them from being engulfed or eliminated by macrophages.

Forty Seven shares were flat at US$14.91 in afternoon trade.

Contact Ellen Kelleher at [email protected]

Story by ProactiveInvestors


Source: http://www.proactiveinvestors.com/companies/news/202890/forty-seven-s-chief-cancer-therapy-shows-commercial-potential-says-oppenheimer-analyst-202890.html


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