Roth Capital Partners launched coverage of Harpoon Therapeutics (NASDAQ:HARP) with a “buy” rating and price target of $25. The stock closed at $13.51 on Nov. 13.
Analyst Zegbeh Jallah writes that Harpoon has a next-generation tri-specific platform optimized for efficient tumor penetration, limited toxicity and more convenient dosing.
Ms. Jallah said she likes the company’s clinical strategy focusing on biomarker-selected patients that could facilitate a faster path to approval and a very experienced management team and board spearheading these efforts. “With multiple clinical data-readouts in 2020, Harpoon ought to be on your radar,” she added.
Among upcoming clinical catalysts, Ms. Jallah said Harpoon expects to present preliminary proof-of-concept data in the first half of 2020 from a Phase 1 trial of HPN424 for PSMA+ advanced and metastatic prostate cancer.
Harpoon also is expected to present some proof-of-concept data from a Phase 1/2a trial of HPN536 for advanced or metastatic ovarian cancer as well as other mesothelin expressing solid tumors.
And Harpoon expects to submit an IND for HPN217, a B-cell maturation agent- targeting tri-specific T-cell activating construct, and “we can likely expect the lineal trial to be initiated in early 2020,” she added.
