Received this 5minutes ago. Senior Analyst at Ords I believe. Hope it's not breaching any copyright.
Subject: Prima BioMed Limited (PRR - Buy / High risk) - Initiation of Coverage
Prima BioMed Limited (PRR)
Buy / High risk
Valuation: $0.53 / Last Price: $0.28
Developing the CVac vaccine for ovarian cancer
? Prima Biomed Limited (PRR) is a biotechnology company with a focus on technologies in the fields of cancer immunotherapy and immunology. It is developing a vaccine known as CVac to treat ovarian cancer and has assembled an experienced and well-regarded team to oversee the development process.
? There is a large, unmet market need in ovarian cancer treatment, and CVac is being developed to meet this need. The company has a clear strategy to develop and commercialise CVac over the next three to five years, with opportunities to expand the scope of the treatment to other types of cancer.
? A Phase III clinical trial will commence in 3Q11. It aims to recruit 800 patients and will be a pivotal study of CVac. If the trial is successful regulatory approvals will follow. OML believes that CVac, if successful, can achieve ?blockbuster? status (sales of $1 billion or more per annum), and at current prices offers an excellent opportunity to participate in this highly prospective and locally developed oncology treatment.
? Catalysts for the stock over the next 18-24 months include: 1) completion of Phase IIb recruitment (expected by 3Q11), 2) German/EU manufacturing approval (Q311), 3) completion of Phase III trial recruitment (expected by 4Q12), and 4) indicative results of the Phase IIb trial (expected by Q312). Key risks for CVac include: 1) a lack of efficacy, given the treatment is yet to be tested on a large population, 2) difficulty in scaling the manufacturing procedures, and 3) delays in the clinical trials imposed by regulatory bodies.
? OML initiates coverage with a Buy recommendation and a risk-adjusted valuation of $0.53 per share. If the data plays out favourably, we believe PRR is materially undervalued and that this value will be unlocked progressively over the coming years.
- Forums
- ASX - By Stock
- IMM
- who likes 53c?
who likes 53c?
-
-
- There are more pages in this discussion • 35 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add IMM (ASX) to my watchlist
|
|||||
Last
33.5¢ |
Change
-0.100(23.0%) |
Mkt cap ! $486.6M |
Open | High | Low | Value | Volume |
39.0¢ | 40.0¢ | 23.0¢ | $16.23M | 50.19M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 704297 | 33.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
33.5¢ | 102135 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 704297 | 0.330 |
6 | 95226 | 0.325 |
8 | 320688 | 0.320 |
5 | 96798 | 0.315 |
5 | 162491 | 0.310 |
Price($) | Vol. | No. |
---|---|---|
0.335 | 102135 | 2 |
0.340 | 75209 | 1 |
0.345 | 172909 | 5 |
0.350 | 167499 | 5 |
0.355 | 93526 | 4 |
Last trade - 16.10pm 27/06/2024 (20 minute delay) ? |
Featured News
IMM (ASX) Chart |