|Over a week ago|
Silverback Therapeutics price target lowered to $5 from $6 at Stifel » 14:3805/1305/13/22
Stifel analyst Stephen…
Stifel analyst Stephen Willey lowered the firm's price target on Silverback Therapeutics to $5 from $6 and keeps a Hold rating on the shares. The focus has shifted "squarely" to the prospects of SBT8230 following Silverback's discontinuation of its two lead oncology assets, said Willey, who thinks the extended timelines before there is more clarity is likely to keep shares in check despite what he notes is a current "sub-cash valuation."
Silverback Therapeutics reports Q1 EPS (70c), consensus (54c) » 16:0605/1205/12/22
"In the first…
"In the first quarter of 2022, we have made significant progress in advancing the preclinical development of SBT8230, a first-in-class antibody-drug conjugate that we believe has the potential to drive functional cure in patients with chronic hepatitis B (cHBV) by eliciting a liver-localized anti-viral response," said Laura Shawver, Ph.D., CEO. "We believe that activating the immune response is an important component of a functional cure and may be combined with treatments that target the HBV life cycle to improve durability. Our team is on track to complete a regulatory submission in the fourth quarter of 2022, enabling the planned initiation of the single ascending dose healthy volunteer cohort of the Phase 1 study in the first quarter of 2023. We plan to report data from this cohort in the second half of 2023."
|Over a month ago|
Silverback Therapeutics downgraded to Neutral from Buy at Goldman Sachs » 16:4404/0104/01/22
Goldman Sachs analyst…
Goldman Sachs analyst Paul Choi downgraded Silverback Therapeutics to Neutral from Buy with a price target of $3.50, down from $25. Silverback reported Q4 earnings, and announced a major strategic change as the company has decided to discontinue its oncology programs, SBT6050 and SBT6290, "both of which represented the most advanced assets in the pipeline."
Street Wrap: Today's Top 15 Upgrades, Downgrades, Initiations » 09:3404/0104/01/22
WYNN, DELL, IMRX, POSH, VRT, BLND, UPST, GPS, TELL, CMA, CHKP, PARA, AWKNF, SBTX, W
Silverback Therapeutics downgraded to Market Perform from Outperform at SVB Leerink » 08:5604/0104/01/22
SVB Leerink analyst Daina…
SVB Leerink analyst Daina Graybosch downgraded Silverback Therapeutics to Market Perform from Outperform with a price target of $1.80, down from $25.00. The downgrade follows the company's decision to discontinue their two leading oncology programs, SBT6050 and SBT6290, given toxicity that limited SBT6050 dose in combination with pembrolizumab and lack of SBT6050 single-agent activity, Graybosch tells investors in a research note.
Silverback Therapeutics downgraded to Hold from Buy at JonesTrading » 08:3904/0104/01/22
JonesTrading analyst Soumit Roy downgraded Silverback Therapeutics to Hold from Buy with no price target after the company discontinued development of all of their oncology assets, including lead asset SBT6050, and shifted focus entirely to preclinical asset SBT8230 for chronic HBV. He sees a Hold rating as appropriate until there is more clarity on the path forward and Silverback is closer to clinical data, Roy tells investors.
Silverback Therapeutics downgraded to Market Perform from Outperform at SVB Leerink » 07:5504/0104/01/22
SVB Leerink analyst Daina…
SVB Leerink analyst Daina Graybosch downgraded Silverback Therapeutics to Market Perform from Outperform with a $1.80 price target.
Silverback Therapeutics downgraded to Neutral from Buy at H.C. Wainwright » 06:0604/0104/01/22
H.C. Wainwright analyst…
H.C. Wainwright analyst Edward White downgraded Silverback Therapeutics to Neutral from Buy without a price target. The company announced it has discontinued the development of SBT6050, its lead product candidate comprised of a TLR8 linker-payload conjugated to a HER2-directed monoclonal antibody targeting Nectin4, White tells investors in a research note. The company has also decided to discontinue the development of SBT6290 due to the likelihood of it having a similar clinical profile to SBT6050, he adds. White cites these moves for the downgrade.
Silverback Therapeutics downgraded to Hold from Buy at Stifel » 05:2504/0104/01/22
Stifel analyst Stephen…
Stifel analyst Stephen Willey downgraded Silverback Therapeutics to Hold from Buy with a price target of $6, down from $32. Management's discontinuation of the SBT6050/SBT6290 development programs, a decision predicated on limited single-agent SBT6050 anti-tumor activity observed to date and cytokine-related, dose-limiting toxicities which challenge the pursuit of combinations, "represents a material change" to the investment thesis, Willey tells investors in a research note. The analyst believes SBT8230 still holds promise in hepatitis B virus but says additional visibility into the potential for this asset "will take significant time to manifest."
Silverback Therapeutics reports FY21 EPS ($2.56), consensus ($2.60) » 16:0103/3103/31/22
"Upon comprehensive review of our clinical and preclinical data for our TLR8 oncology programs, we have made the decision to discontinue the development of SBT6050 and SBT6290, and focus our resources on SBT8230 for chronic HBV as well as our ImmunoTAC discovery programs," said Laura Shawver, Ph.D., chief executive officer of Silverback. "We would like to thank the investigators and the staff at each of our sites, and most importantly, the patients who participated in our trial and their families."