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.
据美国银行证券分析师称，在新冠肺炎疫苗竞赛中落在后面的英诺维奥制药公司(纳斯达克股票代码：INO)，除了冠状病毒疫苗外，还有很多东西可以提供。
The Inovio Analyst: Geoff Meacham initiated coverage of Inovio with a Neutral rating and $13 price target.
Inovio分析师：杰夫·米查姆(Geoff Meacham)以中性评级和13美元的目标价启动了对Inovio的报道。
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的论文：米查姆在周三的一份启蒙报告中表示，尽管有关Inovio的大部分辩论都集中在其名为INO-4800型新冠肺炎DNA疫苗上，但该公司还有其他价值驱动因素，如针对传染病、人乳头状瘤病毒相关癌症前病变和肿瘤学等适应症的基于DNA的药物。
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.
这位分析师说，由于ino-4800型股票对美国银行各部分之和的净现值贡献很大，围绕新冠肺炎格局的波动使该公司一直处于观望状态。
The analyst now estimates global peak sales of $1.6 billion for NO-4800.
这位分析师现在估计，NO-4800的全球最高销售额为16亿美元。
"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.
米查姆说：“我们对INO-4800与竞争对手的临床情况并不持负面看法，相反，我们认为C-19疫苗市场正日益饱和，对于后来的市场进入者来说，上升的空间很小。”
Related Link: FDA Decisions For Pfizer, Eli Lilly And Bluebird Bio, Bristol-Meyers Squibb, Plus New Data And Earnings
相关链接：FDA对辉瑞(Pfizer)、礼来(Eli Lilly)和蓝鸟生物(Bluebird Bio)、百时美施贵宝(Bristol-Meyers Squibb)、Plus新数据和收益的决定
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，这位分析师表示，鉴于2b/3期研究仍被搁置，仍有一些降低风险的事件。他说，该计划将在年中取得进展。
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，未来12-18个月，管道其余部分的关键降风险催化剂可能会带来上行空间。
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.
这位分析师说，这些催化剂包括定于2022年进行的VGX-3100治疗HPV相关性宫颈发育不良的第二阶段3期研究的数据；INO-5401治疗多形性胶质母细胞瘤的额外1/2期数据；以及2021年底左右INO-4800的3期数据。
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.
他说，管道的其余部分对美国银行的模型有利，包括用于复发性呼吸道乳头状瘤病的INO-3107，以及用于头颈部癌症的MEDI0457等合作项目。
INO Price Action: At last check, Inovio shares were trading down 4.99% at $9.80.
Ino价格行动：根据最新消息，Inovio股价下跌4.99%，至9.80美元。
相关链接：每日生物技术脉搏：美国食品和药物管理局批准默克、帕希拉和新西兰，罗氏-再生王牌后期新冠肺炎研究，阿洛维尔任命吉列德病毒学首席执行官为首席执行官
译文内容由第三方软件翻译。