Oppenheimer initiated coverage on Fusion Pharmaceuticals Inc FUSN, citing the company's pipeline as among the best in the space with alpha-emitter-based targeted radionuclide therapies (TRTs), with three currently in clinical development.
The analysts Jeff Jones and Kyle Yang have initiated with an Outperform rating and a price target of $13.
The company's candidates are making their mark in the well-established yet competitive field of metastatic castration-resistant prostate cancer (mCRPC) and are also exploring more innovative targets applicable to various solid tumors.
The opportunity for FPI-2265, as an alpha-emitter, to compete directly against beta-emitter treatments for patients could provide over 2x upside to Oppenheimer's current valuation.
The interim Phase 2 data from FPI-2265 in mCRPC patients, anticipated 1Q24, is expected to have a potential impact.
The analyst underscores that Novartis AG's NVS recent supply challenges accentuate the crucial role of a well-managed supply chain in meeting the strong demand for Targeted Radiation Therapies (TRTs).
FUSN's management's expertise in isotope supply, coupled with the company's substantial investments in numerous suppliers, is viewed as a pivotal factor in cementing its robust standing in the market.
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