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Fly News Breaks for November 4, 2019
BNTX
Nov 4, 2019 | 06:13 EDT
UBS analyst Andrew Ang initiated coverage of BioNTech with a Buy rating and $21 price target. The analyst believes that the company can generate about $500M in risk-adjusted sales with BNT111 and about $730M with BNT122 after seeing "encouraging monotherapy and combo clinical efficacy and safety results for BNT111" in tough to treat checkpoint inhibitor failure patients as well as in BioNTech's first-gen iNeST program, BNT121 also in CPI failures. Further data readouts and details of the company's early stage non-mRNA platform could yield additional upside, Ang says in his research note.