Inovio Has 'Bigger Value Drivers' Outside Of COVID-19 Vaccine Program: BofA Analyst
Inovio Has 'Bigger Value Drivers' Outside Of COVID-19 Vaccine Program: BofA Analyst
Inovio Pharmaceuticals, Inc. (NASDAQ:INO), which has fallen behind in the COVID-19 vaccine race, has much to offer beyond a coronavirus vaccine, according to a BofA Securities analyst.
據美國銀行證券分析師稱，在新冠肺炎疫苗競賽中落在後面的英諾維奧製藥公司(納斯達克股票代碼：INO)，除了冠狀病毒疫苗外，還有很多東西可以提供。
The Inovio Analyst: Geoff Meacham initiated coverage of Inovio with a Neutral rating and $13 price target.
Inovio分析師：傑夫·米查姆(Geoff Meacham)以中性評級和13美元的目標價啟動了對Inovio的報道。
The Inovio Thesis: Although much of the debate on Inovio is centered around its COVID-19 DNA vaccine, dubbed INO-4800, it has other value drivers in the form of DNA-based medicines for indications such as infectious diseases, HPV-related precancers and oncology, Meacham said in a Wednesday initiation note.
Inovio的論文：米查姆在週三的一份啟蒙報告中表示，儘管有關Inovio的大部分辯論都集中在其名為INO-4800型新冠肺炎DNA疫苗上，但該公司還有其他價值驅動因素，如針對傳染病、人乳頭狀瘤病毒相關癌症前病變和腫瘤學等適應症的基於DNA的藥物。
Since INO-4800 contributes significantly to BofA's sum-of-the-parts net present value, volatility around the COVID-19 landscape has kept the firm on the sidelines, the analyst said.
這位分析師説，由於ino-4800型股票對美國銀行各部分之和的淨現值貢獻很大，圍繞新冠肺炎格局的波動使該公司一直處於觀望狀態。
The analyst now estimates global peak sales of $1.6 billion for NO-4800.
這位分析師現在估計，NO-4800的全球最高銷售額為16億美元。
"We aren't negative on the clinical profile of INO-4800 vs. competition, but rather, we see the C-19 vaccine market as increasingly saturated, with little room for upside for a later market entrant," Meacham said.
米查姆説：“我們對INO-4800與競爭對手的臨牀情況並不持負面看法，相反，我們認為C-19疫苗市場正日益飽和，對於後來的市場進入者來説，上升的空間很小。”
Related Link: FDA Decisions For Pfizer, Eli Lilly And Bluebird Bio, Bristol-Meyers Squibb, Plus New Data And Earnings
相關鏈接：FDA對輝瑞(Pfizer)、禮來(Eli Lilly)和藍鳥生物(Bluebird Bio)、百時美施貴寶(Bristol-Meyers Squibb)、Plus新數據和收益的決定
Additionally, there are still some de-risking events given that the Phase 2b/3 study remains on hold, the analyst said. The program will progress by midyear, he said.
此外，這位分析師表示，鑑於2b/3期研究仍被擱置，仍有一些降低風險的事件。他説，該計劃將在年中取得進展。
Upside is likely from key de-risking catalysts for the rest of the pipeline in the next 12-18 months, Meacham said.
Meacham表示，未來12-18個月，管道其餘部分的關鍵降風險催化劑可能會帶來上行空間。
These catalysts include data from the second Phase 3 study of VGX-3100 in HPV-linked cervical dysplasia, due in 2022; additional Phase 1/2 data from INO-5401 in glioblastoma multiforme around midyear; and Phase 3 data from INO-4800 around the end of 2021, the analyst said.
這位分析師説，這些催化劑包括定於2022年進行的VGX-3100治療HPV相關性宮頸發育不良的第二階段3期研究的數據；INO-5401治療多形性膠質母細胞瘤的額外1/2期數據；以及2021年底左右INO-4800的3期數據。
The rest of the pipeline is upside to BofA's model, including INO-3107 in recurrent respiratory papillomatosis and partnered programs such as MEDI0457 in head and neck cancer, he said.
他説，管道的其餘部分對美國銀行的模型有利，包括用於複發性呼吸道乳頭狀瘤病的INO-3107，以及用於頭頸部癌症的MEDI0457等合作項目。
INO Price Action: At last check, Inovio shares were trading down 4.99% at $9.80.
Ino價格行動：根據最新消息，Inovio股價下跌4.99%，至9.80美元。
相關鏈接：每日生物技術脈搏：美國食品和藥物管理局批准默克、帕希拉和新西蘭，羅氏-再生王牌後期新冠肺炎研究，阿洛維爾任命吉列德病毒學首席執行官為首席執行官
譯文內容由第三人軟體翻譯。