Maxim ups Sophiris Bio PT to $8

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Maxim Group raised its price target for Sophiris Bio (NASDAQ:SPHS) to $8 from $5, factoring in topsalysin data in prostate cancer at the end of the second quarter. The stock was quoted at $3.55 in afternoon trading on May 15.

“We see tosalysin as a potential paradigm shifting therapy in the management of prostate-related diseases: BPH (enlarged prostate) and prostate cancer,” writes analyst Jason McCarthy.

A Phase 2 proof-of-concept study in localized prostate cancer completed enrollment with 38 patients in December 2017. Six-month biopsy data for patients that received one administration of topsalysin is expected at the end of the second quarter of 2018. In a prior study, at six months, 9/18 patients experienced tumor ablation, with two experiencing complete ablation.

As part of the Phase 2 study, patients that had one administration and a partial response but still had clinically significant prostate cancer could be retreated.

Mr. McCarthy said tosalysin offers an alternative or delay for chemical castration or radical prostatectomy. “If the repeat dosing is effective and there is no immunogenicity, tosalysin could be used essentially once a year to keep localized prostate cancer ‘in check’ and prevent/delay more radical therapies, improving outcomes and quality of life.”

Stephen Kilmer