Optimistic Buy Rating for Kronos Bio Amid Positive KB-0742 Trial Progress and Expanding Oncology Pipeline

TD Cowen analyst Tyler Van Buren has maintained their bullish stance on KRON stock, giving a Buy rating on May 3.

Tyler Van Buren has given his Buy rating due to a combination of factors related to the progress and potential of Kronos Bio’s product pipeline. The anticipation of positive results from the Phase I/II trial of KB-0742, which will be shared at the upcoming ASCO conference, is one of the critical elements supporting the Buy rating. The drug has previously shown a disease control rate of 48% in higher dose cohorts, indicative of dose-dependent clinical activity. Furthermore, the fact that KB-0742 has not yet reached the maximum tolerated dose suggests potential for further optimization of the dosing regimen.
Additionally, the strategic positioning of KB-0742 for both single-agent and combination uses enhances its market potential. It could be developed as a monotherapy for certain less common, transcriptionally addicted cancers, or in combination for more prevalent cancers, thereby expanding its therapeutic reach. The unveiling of KB-9558, which targets a key transcriptional network in multiple myeloma, along with its progression towards clinical studies, highlights Kronos Bio’s ongoing commitment to addressing significant unmet medical needs in oncology. The combination of these factors underscores the optimism around the company’s prospects and underpins the Buy rating.

In another report released on May 3, H.C. Wainwright also reiterated a Buy rating on the stock with a $2.25 price target.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KRON in relation to earlier this year.

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Kronos Bio (KRON) Company Description:

Kronos Bio Inc is a clinical-stage biopharmaceutical company dedicated to the discovery and development of novel cancer therapeutics designed to transform patient outcomes through a precision medicine strategy by targeting dysregulated transcription.