Silverback Therapeutics a buy at Goldman on unique therapy platform

 

• As the post-IPO quiet period ends for Silverback Therapeutics (NASDAQ:SBTX), Goldman Sachs weighs in on the stock with a buy recommendation, citing the company’s unique platform targeting the immune system.
• The price target is $43, implying only ~14.2% upside on today’s close after the stock climbed 13.6% during the day, adding to the nearly 100% gain since its IPO.
• Noting the company is at the forefront of the ‘antibody-drug conjugate landscape’, Paul Choi and the team highlight the differentiated therapeutic platform of Silverback.
• Contrasting the traditional cytotoxic cell-killing therapies, it ‘combines the benefits of targeting a tumor with an antibody and harnessing an immune response with an immuno-oncology ("IO") agent,’ write the analysts.
• For its lead asset SBT6050, comprising a specific small molecule toll-like receptor 8 (TLR8) agonist conjugated to a HER2-directed monoclonal antibody, the company in September initiated a Phase 1 clinical study in adults with HER2-expressing solid tumors.
• The company shares popped 38% on its market debut, signaling a strong IPO in early December.
• https://seekingalpha.com/news/3647988-silverback-therapeutics-is-buy-goldman-sachs-on-unique-therapy-platform