Month: October 2019

Research – Trovagene (TROV) – Number of Patients with a Complete Response Increases in AML Study

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Tuesday, October 1, 2019

Trovagene (TROV)

Number of Patients with a Complete Response Increases in AML Study

Trovagene, Inc. is a clinical stage biotechnology company focused on the development of new therapeutics for hematology and oncology. The company’s clinical programs of Onvansertib (PLK1 inhibitor) include Phase 1b/2 study in AML, Phase 1b/2 study in mCRPC and Phase 1b/2 trial in KRAS-mutant colorectal cancer.

Ahu Demir, Ph.D., Biotechnology Research Analyst, Noble Capital Markets, Inc.

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  • AML study update at ESMO. Trovagene presented updated data from the Phase 1b/2 study assessing Onvansertib in combination with standard-of-care chemotherapy (low-dose cytarabine (LDAC) or decitabine) in acute myeloid leukemia (AML). Four patients among 24 achieved objective responses, two with complete remission (CR) and two with incomplete hematologic recovery (iCR).
  • Higher doses of Onvansertib are more effective.   The patients who were treated with the highest two doses (27, 40 mg/m2) of Onvansertib demonstrated…



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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Research – Sierra Metals (SMTS) – Looking Ahead to 2020

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Tuesday, October 1, 2019

Sierra Metals (SMTS)

Looking Ahead to 2020

Sierra Metals is a mid-size precious and base metal producer with mines in Mexico (Bolivar and Cusi) and Peru (Yauricocha). The company has expanded milling capacity in recent years and is poised to grow as it expands existing operations and makes selective acquisitions. The company has ample brownfield opportunities surrounding its existing mines and is actively drilling at all three of its producing mines. The company trades on the NYSE under the symbol SMTS and on the Toronto exchange under the symbol SMT. Sierra has approximately 163 million fully diluted shares outstanding. Arias Resource Capital owns 52% of the company, BlackRock owns 10% and Ingalls & Snyder owns 5%. Consequently, the shares of SMTS and SMT.TO are thinly traded.

Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.

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  • Updating estimates.  While our 2019 estimates remain unchanged, we have increased our 2020 EPS and EBITDA estimates to $0.28 and $132.0 million from $0.26 and $129.9 million, respectively. The increase to our estimate reflects, in part, modestly higher contributions from the Bolivar and Cusi mines based on higher average grades and recoveries.
  • Growth driven by near-term expansions.   In our view, Sierra’s growth outlook, based on planned expansions, is robust and should drive revenue growth and lower unit costs. Production at Yauricocha is expected to…



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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision.