Jones Trading initiates Buy on IN8bio shares with $5 price target by Investing.com


© Reuters.

On Tuesday, Jones Trading initiated coverage on IN8bio Inc. (NASDAQ:INAB), a biotechnology company focused on developing cancer treatments, with a Buy rating and a stock price target of $5.00.

The company highlighted IN8bio’s commitment to oncology and its unique approach in the γδ T-cell-based therapeutic landscape, particularly in the context of leukemia maintenance after allogeneic stem cell transplantation and for patients with newly diagnosed glioblastoma.

Jones Trading highlighted that the main value driver for IN8bio in the next 4-10 months would be phase 1 data from its trial in acute myeloid leukemia (AML). At the December 2023 American Society of Hematology (ASH) conference, IN8bio reported a 100% relapse-free survival (RFS) rate in a small cohort of AML patients.

This promising result sets a high benchmark for future data publication, especially given the high-risk nature of patients enrolled in the IN8bio study.

The biotek company’s INB-100 treatment, which consists of HLA-matched allogeneic γδ T cells, showed significant persistence in the patients’ circulation for up to one year after administration. This persistence, potentially enhanced by HLA matching, may play a key role in achieving long-term remission. The natural tissue localization characteristics of γδ T cells also suggest potential clinical benefits for solid tumors.

Investors are eagerly awaiting further updates on IN8bio’s trial, with mature data expected for the AML trial in mid-2024 at major conferences such as ASCO or EHA, and additional AML and glioblastoma multiforme (GBM) trial data expected in 4. quarter 2024. presented at Society for Neuro-Oncology (SNO) and ASH meetings.

Several potential turning points in 2024, combined with a recovering market rewarding stocks with positive data, support the positive outlook for IN8bio, according to Jones Trading.

This article was generated and translated using artificial intelligence and reviewed by an editor. For more information, see our T&Cs.

Leave a Comment