IvelinRadkov
HC Wainwright initiated coverage of eFFECTOR Therapeutics (NASDAQ:EFTR) with a buy rating, citing its proprietary technology platform and near-term catalysts for its oncology drug candidates zotatifin and tomivosertib.
The investment bank said eFFECTOR’s proprietary platform, which is focused on selective translation regulator inhibitors, or STRIs, may have “broad applicability” across a range of hard-to-treat cancers.
The bank added that data from a Phase 2b trial for tomivorsertib in the treatment of lung cancer could be released in the second half of 2023.
HC Wainwright also cited the company’s partnership with Pfizer (PFE) for the development of small-molecule eIF4E inhibitors, which it believes provides “strategic validation and potential long-term upside to our forecasts.”
HC Wainwright set a price target of $5 for the stock.
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Image and article originally from seekingalpha.com. Read the original article here.