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Thursday, September 12, 2019
Biotechnology
Key Upcoming Catalysts for Oncology Companies in Our Coverage Universe
Ahu Demir, Ph.D., Biotechnology Research Analyst & Cosme Ordonez, M.D., Ph.D, Senior Life Sciences Analyst, Noble Capital Markets, Inc.
Refer to end of report for Analyst Certification & Disclosures
- Highlighting key near-term catalysts. We are highlighting near term value generating catalysts for companies under coverage in oncology space; Onconova (ONTX, Outperform) and Trovagene (TROV, Outperform).
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RAS Conference presentation. Onconova will be presenting at the RAS-Targeted Drug Discovery Summit on September 17-19. We view this presentation as an opportunity to showcase Rigosertib, a RAS pathway inhibitor, in front of key opinion leaders. We do not expect a clinical data update. We think this event is important as it will help Onconova to be recognized as a player in RAS-targeted cancer therapeutics.
- ESMO presentation. We view the data readout (abstract# 2411) from Phase 1b AML trial of Onvansertib at the European Society for Medical Oncology (ESMO) on September 27-October 1 as a key catalyst for Trovagene. As of now, we have seen promising preliminary activity in AML (89% of disease control rate, 17/19 patients). We think further safety and efficacy data from additional patients will continue to validate Onvansetib’s clinical activity in AML.
- IND filing. In our view, the next generation CDK4/6 inhibitor ON 123300 from Onconova is
an interesting preclinical small molecule with targeted activity for the treatment of cancers
related to aberrant CDK4/6 cell cycle pathways. We are waiting for the company’s
Investigational New Drug (IND) filing in H2 2019, followed by the commencement of a Phase
1 study in 2020. - Completion of Phase 3 enrollment. Topline data readout from INSPIRE trial assessing
Onconova’s Rigosertib for the treatment of high-risk myelodysplastic syndrome (HR-MDS)
remains as the major milestone for Onconova. Completion of enrollment in this study in H2
2019 will be an important milestone, followed by topline data analysis.
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Company Specific Disclosures
The following disclosures relate to relationships between Noble and the company (the “Company”) covered by the Noble Research Division and referred to in this research report.
Trovagene (TROV) Specific Disclosures: The Company in this report is a participant in the Company Sponsored Research Program (“CSRP”); Noble receives compensation from the Company for such participation. No part of the CSRP compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed by the analyst in this research report.
The Company has attended Noble investor conference(s) in the last 12 months. Noble has arranged non-deal roadshow(s) with investors in the last 12 months.
Noble intends to seek compensation for investment banking services and non-investment banking services (securities and non-securities related) within the next 3 months.
Onconova (ONTX) Specific Disclosures: The Company in this report is a participant in the Company Sponsored Research Program (“CSRP”); Noble receives compensation from the Company for such participation. No part of the CSRP compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed by the analyst in this research report. The Company has attended Noble investor conference(s) in the last 12 months.
Noble intends to seek compensation for investment banking services and non-investment banking services (securities and non-securities related) within the next 3 months.
Noble is not a market maker in any of the companies mentioned in this report. Noble intends to seek compensation for investment banking services and non-investment banking services (securities and non-securities related) with any or all of the companies mentioned in this report within the next 3 months
ANALYST CREDENTIALS, PROFESSIONAL DESIGNATIONS, AND EXPERIENCE
Equity Research Analyst focusing on the Life Sciences sector. 5 years of industry experience. PhD in Chemistry from University of Florida.Post Doctoral training at Columbia University and New York University. Her scientific training focused on antiviral therapy, oncology and immuno-oncology.
FINRA licenses 7, 63, 86, 87.
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RESEARCH ANALYST CERTIFICATION
Independence Of View
All views expressed in this report accurately reflect my personal views about the subject securities or issuers.
Receipt of Compensation
No part of my compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed in the public
appearance and/or research report.
Ownership and Material Conflicts of Interest
Neither I nor anybody in my household has a financial interest in the securities of the subject company or any other company mentioned in this report.
| NOBLE RATINGS DEFINITIONS | % OF SECURITIES COVERED | % IB CLIENTS |
|---|---|---|
|
Outperform: potential return is >15% above the current price |
86% | 25% |
| Market Perform: potential return is -15% to 15% of the current price | 14% | 2% |
| Underperform: potential return is >15% below the current price | 0% | 0% |
NOTE: On August 20, 2018, Noble Capital Markets, Inc. changed the terminology of its ratings (as shown above) from “Buy” to “Outperform”, from “Hold” to “Market Perform” and from “Sell” to “Underperform.” The percentage relationships, as compared to current price (definitions), have remained the same.
Additional information is available upon request. The recipient of this report who wishes further information regarding the subject company or the disclosure information mentioned herein, should contact Noble Capital Markets, Inc. by mail or phone.
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Report ID: 11087