Workflow
Bullish Outlook On Instil Bio's Investigational Cancer Drug: Jefferies Sees Over 300% Stock Upside
TILInstil Bio(TIL) Benzinga·2025-01-07 19:06

Core Insights - Jefferies upgraded Instil Bio TIL, highlighting 2024 as a significant year for the PD-(L)1xVEGF class [1] - Summit Therapeutics' ivonescimab showed statistically significant improvement in progression-free survival compared to Merck's Keytruda in the Phase 3 HARMONi-2 trial [1] Group 1: Market Reactions and Projections - The trial update led to a substantial increase in stock prices: Summit Therapeutics up ~150%, BioNTech SE up ~40%, and Instil Bio up ~500% [2] - Jefferies estimates the PD-(L)1xVEGF class could exceed 40billion,comparabletothePD−(L)1class[2]−Anticipationforcontinuedexcitementin2025duetoupcomingcatalysts,includingoverallsurvivaldatafromtheHARMONi−2trialandfirstglobalPhase3data[2][3]Group2:CompanyDevelopments−InstilBio′sSYN2510ispositionedasapromisingassetwithaglobaltrialplannedfor2025[3]−InSeptember,InstilandImmuneOncoBiopharmaceuticalsannouncedaglobalregistrationalstrategyforSYN−2510incombinationwithchemotherapyfornon−smallcelllungcancerandtriple−negativebreastcancer[4]−JefferiesupgradedInstilBiofromHoldtoBuywithapricetargetof40 billion, comparable to the PD-(L)1 class [2] - Anticipation for continued excitement in 2025 due to upcoming catalysts, including overall survival data from the HARMONi-2 trial and first global Phase 3 data [2][3] Group 2: Company Developments - Instil Bio's SYN2510 is positioned as a promising asset with a global trial planned for 2025 [3] - In September, Instil and ImmuneOnco Biopharmaceuticals announced a global registrational strategy for SYN-2510 in combination with chemotherapy for non-small cell lung cancer and triple-negative breast cancer [4] - Jefferies upgraded Instil Bio from Hold to Buy with a price target of 52, reflecting a more than 300% increase from a previous target of 11[4]Group3:IndustryActivity−SignificantbusinessdevelopmentinterestinthePD−(L)1xVEGFclass,withthreedealsannouncedin2024totaling11 [4] Group 3: Industry Activity - Significant business development interest in the PD-(L)1xVEGF class, with three deals announced in 2024 totaling 1.4 billion upfront and a total deal value of 6.4billion[5]−Theinvolvementofmajorpharmaceuticalcompanies,includingBioNTechandMerck,addsconfidenceinthemechanismofactionforSYN2510[5]−InstilBio′sTILstockrose22.46.4 billion [5] - The involvement of major pharmaceutical companies, including BioNTech and Merck, adds confidence in the mechanism of action for SYN2510 [5] - Instil Bio's TIL stock rose 22.4% to 24.90 following these developments [5]