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FTSV

Forty Seven

$17.83

-0.89 (-4.75%)

16:05
05/13/19
05/13
16:05
05/13/19
16:05

Forty Seven reports Q1 EPS (74c), consensus (63c)

As of March 31, cash, cash equivalents and short-term investments were $113.6M, as compared to $139M as of December 31, 2018. This decrease reflects cash used to fund operating activities, including approximately $7.7 million in an advance payment for contract manufacturing, in the first quarter of 2019. The company expects that its cash, cash equivalents and short-term investments will fund operating expenses and capital expenditure requirements through the first half of 2020. "Our achievements year-to-date reflect our commitment to maximizing the potential of 5F9 as a novel, first-in-class therapeutic for the treatment of cancer," said Mark McCamish, M.D., Ph.D., President and Chief Executive Officer of Forty Seven, Inc. "Building on the promising results observed in our Phase 1b NHL trial, we recently entered into additional clinical collaborations to evaluate 5F9 as part of two triplet regimens for patients with the most aggressive forms of the disease. With these partnerships, we continue to cost-efficiently explore the full therapeutic potential of 5F9 across multiple treatment modalities. Looking ahead, we are eager to report updated data from our Phase 1b/2 trial of 5F9 plus rituximab in r/r NHL at the EHA and ICML meetings, as well as new clinical data from our Phase 1b trial of 5F9 in combination with azacitidine in AML and MDS at the ASCO and EHA medical meetings. These data will provide key insights as we chart our long-term development plan for 5F9."

  • 13

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  • 12

    Jun

FTSV Forty Seven
$17.83

-0.89 (-4.75%)

11/30/18
11/30/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Casa Systems (CASA) initiated with a Buy at Needham. 2. Charles Schwab (SCHW) and E-Trade (ETFC) were initiated with a Buy at Goldman Sachs. 3. Forty Seven (FTSV) initiated with a Buy at H.C. Wainwright. 4. Akoustis (AKTS) initiated with a Buy at Lake Street. 5. Everi Holdings (EVRI) initiated with a Strong Buy at Raymond James. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/21/18
BTIG
12/21/18
INITIATION
Target $36
BTIG
Buy
Forty Seven initiated with a Buy at BTIG
BTIG analyst Robert Hazlett started Forty Seven with a Buy rating and $36 price target. The company develops therapeutics based on the "transformational discovery" of CD47 as a novel immune pathway that controls signals that cells send to macrophages, Hazlett tells investors in a research note. The analyst believes blocking CD47 signaling has the potential to enable and enhance anti-cancer macrophage activity, as well as incremental adaptive immune responses, leading to potential broad anti-cancer activity for anti-CD47 approaches.
02/01/19
JONE
02/01/19
INITIATION
Target $30
JONE
Buy
Forty Seven initiated with a Buy at JonesTrading
JonesTrading analyst Soumit Roy initiated Forty Seven with a Buy rating and $30 price target, stating that following the success of anti-PD(L)-1 drugs targeting T cells, macrophages are a target to get reengaged in the fight against cancer. Forty Seven's anti-CD47 antibody, 5F9, is clinically the most advanced and "at least 12-18 months ahead of peers," Roy tells investors.
04/12/19
GUGG
04/12/19
INITIATION
Target $25
GUGG
Buy
Forty Seven initiated with a Buy at Guggenheim
Guggenheim analyst Michael Schmidt started Forty Seven with a Buy rating and $25 price target. The company is the scientific and clinical leader in targeting CD47, a novel mechanistic approach with "significant" market potential if successful, Schmidt tells investors in a research note. The analyst believes multiple early clinical-phase data readouts through 2019 may establish proof-of-concept in additional tumor types.

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