Roth Capital Partners resumed coverage of Actinium Pharmaceuticals (NYSE American:ATNM) with a “buy” rating and price target of $6. The stock closed at 73 cents on Oct.23.
Analyst Jotin Marango writes that Actinium brings radio-immunotherapy into the increasingly hot space of acute myelogenous leukemia (AML).
Its first clinical agent is Iomab-B, an anti-CD45 antibody conjugated to the isotope, Iodine-131, which is now in a pivotal Phase 3 study as conditioning therapy for bone marrow transplant in relapsed/refractory elderly AML patients.
Its second clinical agent is Actimab-A, an anti-CD33 antibody conjugated to the isotope, Actinium-225, now in a Phase 2 trial as front-line therapy in elderly AML patients, as well as in Phase 1 testing in genetically-defined multiple myeloma.
“We believe that these advanced clinical programs under a $60-million capitalization umbrella offer an unusually discounted long opportunity for investors with an eye toward AML biologics,” Mr. Marango said. “Even success in either of the programs alone would offer upside to current trading levels.”