Now that’s more like it – after a clinical update at December’s American Society of Hematology (or ASH) meeting that offered more worries than encouragement (at least for the market), Aptose Biosciences (APTO) provided a clinical update with fourth quarter earnings that offered more encouragement on the safety and efficacy of the lead drug luxeptinib (formerly known as CG-806).
This remains a challenging and frustrating time to own Aptose shares, but also a time with significant potential ahead. While I do believe there is strong preclinical evidence of the potential of luxeptinib, proving out that potential in the clinic takes time and investors are left to sift through the dribs and drabs of information presented along the way. I do believe that the European Hematology Association meeting (or EHA) in June is probably too soon to see more definitive evidence of efficacy (or lack thereof), but investors should have a good idea of where luxeptinib stands before year-end with the 2021 ASH meeting.
I’m sticking with a $7/share fair value for now, but I want to emphasize again that this is based on pretty harsh odds of clinical success. Most Phase I drugs fail, and particularly in oncology, but if future updates provide better grounds for higher odds of success, there is still significant value to come.
Read more here:
Aptose Provides An Encouraging Update, But The Road Ahead Is Still Long
No comments:
Post a Comment