H.C. Wainwright 'very encouraged' by Kura data, reiterates $31 price target
Kura Oncology this morning announced a positive outcome on its lead therapeutic candidate, tipifarnib, in Phase 2 clinical trial addressing the role of the drug in HRAS positive squamous cell carcinomas, H.C. Wainwright analyst Joseph Pantginis tells investors in a research note. The analyst believes the data show the validation of the therapeutic efficacy of tipifarnib and better clinical efficacy than current standards of care. "Although the market potential could seem minor, we are very encouraged tipifarnib represents a suitable and the first targeted therapy for HRAS high mutant HNSCC, and should open doors to initial tumor indications," writes Pantginis. He reiterates a Buy rating on Kura Oncology with a $31 price target.