Tlx buys ARTMS - effect on CU-64?, page-19

Bell Potter update dated 6th March

a couple of snips

"COBRA data redefines standard for small PC tumours
CU6 has released additional data from the COBRA study investigating the use of 64Cu-
SAR-bisPSMA to identify metastatic disease (aka biochemical recurrence or BCR) in
prostate cancer (PC) patients with very low levels of serum PSA. Investigators are
seeking to determine if the drug is more sensitive to early stage BCR relative to the
standard of care imaging. The initial data (released Feb 2024) concluded that the
product is safe and effective in detecting lesions in patients with BCR who were
negative or equivocal in SOC imaging (bone scan, CT or PET with approved PSMA
imaging agents)."

"Investment View: Maintain Buy, Valuation $3.90
64Cu-SAR-bisPSMA appears to have a clinical advantage over currently marketed
PSMA targeted imaging agents. The ability to detect earlier stage disease is highly
significant and we believe may give CU6 a sustained advantage in the market for
detection of not only BCR but also in initial staging of disease. Next steps should
include a post phase 2 meeting with FDA and protocol of an approval study. We
expect this protocol will include allowance for both Positive and Negative predictive
values, representing a material step up in diagnostic value compared to the SOC.
Valuation is increased to $3.90 and we retain our Buy (Speculative) valuation.
Changes to earnings are not material in the forecast period"