DJ Actinium Pharmaceuticals Inc (ATNM-US): Hot property mis-priced
Dow Jones received a payment from EQS/DGAP to publish this press release.
goetzpartners securities Limited
Actinium Pharmaceuticals Inc (ATNM-US): Hot property mis-priced
17-Dec-2018 / 13:41 GMT/BST
*Free to access research and investor meetings in a post-MiFID2 world.*
*This research report is intended for use only by persons who qualify as
professional investors or eligible counterparties (institutional investors) in
the applicable jurisdiction, and not by any private individuals or other
persons who qualify as retail clients.*
*Published to the market and investors on 17th December 2018 @ 11.20am (GMT).*
*Actinium Pharmaceuticals Inc (ATNM-US): Hot property mis-priced*
*Recommendation: OUTPERFORM*
*Target Price: USD$ 4.00 *
*Current Price: USD$ 0.42 (CoB on 14th December 2018) *
*KEY TAKEAWAY*
With Novartis spending $6bn on AAA and Endocyte, Actinium looks grossly
mis-priced following the management turn-round. Data reported at ASH (American
Society of Haematology) support a positive outlook. These data should
accelerate recruitment for the on-going pivotal Phase 3 for Iomab-B in AML and
support its broader use in HSCT (Human Stem Cell Transplant). Phase 2 data
underpin the new strategy to leverage the Actinium platform in targeted HSCT
conditioning as well as in combination with other cancer therapies. This
should enable Actinium to commercialise conditioning regimens itself in the
transplant market while exploiting the broad range of therapeutic applications
through partners. We see the current volatility as a buying opportunity. We
maintain and reiterate both our OUTPERFORM recommendation and TP of $4.00.
*Compelling data in poorly treated population* - While bone marrow transplant
represents one of the only effective treatments and promotes survival, few
>55yr patients with active R / R AML are eligible; older patients do not
respond well to current conditioning. Effective in 100% of older patients for
HSCT in the on-going pivotal trial, Iomab-B could have a dramatic benefit.
Given the known survival benefits of HSCT and the Iomab-B arm relapse-free
over 100 days, these results bode well for the key Phase III 180-day endpoint
due in 2019E.
*Opportunity in CAR-T therapy* - Although CAR-T therapy has been shown to be
very effective, current conditioning needed to prepare patients may restrict
use in frailer patients and potentially blunt therapeutic response. Efficient
targeted conditioning with the lower dose Iomab-ACT could provide an effective
alternative improving both patient eligibility and efficacy.
*Phase 2 underpins dual strategy* - Actimab-A Phase 2 data support use of
molecular targeted 225-Ac radiation for HSCT conditioning and targeted disease
therapy. Higher dosing eradicates cancer cells and provides pre-transplant
conditioning. Lower doses can leverage the multiple synergistic anti-cancer
effects of radiation, but with the limited toxicity necessary for combination
with other cancer therapies. This underpins a strategy of direct marketing of
conditioning regimens to transplant centres with therapeutic application out
licensed.
*Acceleration into Phase 3 *- An FDA-agreed protocol allows Actimab-MDS to
move into pivotal Phase 3 for pre-HSCT for myelodysplastic syndrome in 2019E.
Lower dose Actimab combination therapies entering early stage trials should
drive partnering.
*Adding to the buzz around radiopharmaceuticals* - Following closely on the
heels of the recent $2.2bn acquisition of Endocyte Inc by Novartis, these data
can only add to the excitement around radiopharmaceuticals. One of a handful
of pure play clinical stage radio pharma companies, Actinium looks an
attractive asset. We maintain and reiterate both our OUTPERFORM recommendation
and $4.00 target price.
Kind regards,
Chris Redhead | Analyst
goetzpartners Healthcare Research Team | Research Team
goetzpartners securities Limited
The Stanley Building, 7 Pancras Square, London, N1C 4AG, England, UK.
T +44 (0) 203 859 7725 | chris.redhead@goetzpartners.com /
healthcareresearch@goetzpartners.com
www.goetzpartnerssecurities.com [1]
Registered in England No. 04684144.
Managing Directors: Dr Stephan Goetz, Martin Brunninger and Ulrich Kinzel.
*goetzpartners securities Limited - Team Members*
Equity Research Analysts - Martin Brunninger, Brigitte de Lima, Chris Redhead
and Martin Piehlmeier.
Sales / Marketing - Erland Sternby.
Corporate Finance - Ulrich Kinzel, Wolf Dornbusch and Youchen Xin.
Corporate Access and IR - Tanya Tracey and Bettina Ellinghorst.
Compliance - Paul W. Dunne.
Click here [2] to see our privacy policy.
GPSL has a formal client relationship with Evotec AG.
GPSL publishes and distributes "Investment" Research and "Corporate Sponsored"
Research. Our Corporate Sponsored Research and investor meetings (e.g. NDRs, 1
to 1 meetings) are free to access and attend and is not classified as an
inducement in a post-MiFID2 world, this is because the issuer is paying GPSL.
GPSL does not offer any execution or market making services. This is a
marketing communication as defined by the Financial Conduct Authority ("FCA").
The information herein is considered to be an acceptable minor non-monetary
benefit as defined under FCA COBS 2.3A19(5).
In accordance with the General Data Protection Regulation ("GDPR [3]") - if
you would like to be removed / unsubscribed from our CRM (also please note
that you are free to contact GPSL at any time in the future to have your
e-mail subscription amended), please e-mail:
researchproduction@goetzpartners.com
About GPSL [1]: goetzpartners securities Limited is a member of the
goetzpartners group, and a leading pan European investment bank and research
company. We bring together a wide range of expertise, insights and innovations
to advance the interests of our clients around the world. The fast-changing
environment brings challenges for businesses and investors. Research
innovation, digital transformation and disruptive business ideas reshuffle the
corporate world at a relentless pace. Our sector knowledge and our global
footprint bring together corporate intelligence and a deep understanding of
the industry with a wide network of top decision makers. These collective
insights help our clients to stay at the leading edge of change.
This research report is intended for use only by persons who qualify as
professional investors or eligible counterparties (institutional investors) in
the applicable jurisdiction, and not by any private individuals or other
persons who qualify as retail clients.
This communication (including any attachments) from goetzpartners securities
Limited ("GPSL") is confidential and may contain information which is
proprietary, privileged or otherwise legally protected against unauthorised
use or disclosure. If you receive this communication in error or are not the
intended recipient of this communication, please delete and destroy all copies
in your possession, notify the sender that you have received this
communication, and note that any review or dissemination of, or the taking of
any action in reliance on this communication is expressly prohibited. GPSL
shall not be liable for the improper or incomplete transmission of the
information contained in this communication nor for any delay in its receipt
or damage to your system. GPSL does not guarantee that the integrity of this
communication has been maintained nor that this communication is free of
viruses, interceptions or interference and makes no warranties in relation to
these matters. This is not an offer or a solicitation to buy or sell
securities or investment products, or an official confirmation. GPSL record
electronic and phone communications in accordance with FCA and MiFID2
regulations, they will be monitored for regulatory and training purposes. GPSL
[4] is authorised and regulated by the Financial Conduct Authority of the
United Kingdom (Firm Reference Number: 225563).
Click on the following link for the GPSL MiFID2 Investor Guidance Notice [5]
GPSL Equity Research publications are available on the following aggregators
and via news distribution circuits (For Institutional Use Only): AlphaMetry
[6], AlphaSense, Bloomberg (GOET), Capital IQ, EQS, FACTSET, ResearchFN [7],
Research Tree [8], RNS Reach, Sentieo [9] and Thomson Reuters.
Please copy the below link and paste it into your browser for the full pdf
version of the equity research report:
*https://gp.bluematrix.com/sellside/EmailDocViewer?encrypt=d47c95d9-b96e-490f-
a143-b26952658f88&mime=pdf&co=gp&id=paul.dunne@goetzpartners.com&source=librar
yView [10]*
*Free to access research and investor meetings in a post-MiFID2 world.*
*This research report is intended for use only by persons who qualify as
professional investors or eligible counterparties (institutional investors) in
the applicable jurisdiction, and not by any private individuals or other
persons who qualify as retail clients.*
Dissemination of a CORPORATE NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
End of Announcement - EQS News Service
758965 17-Dec-2018
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=750ca54579c5d5447638f7f35718f4d1&application_id=758965&site_id=vwd&application_name=news
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=e4cf3d45df1d07e4e36e54790266d6f1&application_id=758965&site_id=vwd&application_name=news
3: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=105c239b1a4ab584252dd4cb0ab60fcc&application_id=758965&site_id=vwd&application_name=news
4: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=ba4d174d6cc17a15461e9920a97cb6e6&application_id=758965&site_id=vwd&application_name=news
5: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=78ace63222a52cf083b315624375737d&application_id=758965&site_id=vwd&application_name=news
6: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=74ec96f086effd6902b227645be3904c&application_id=758965&site_id=vwd&application_name=news
7: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=4ca72a1f25bfe4e057f55b4178d31406&application_id=758965&site_id=vwd&application_name=news
8: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=e6502ecec4e43c9ec21d32670b12b227&application_id=758965&site_id=vwd&application_name=news
9: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=e3895772493fb088c9401b3187f667a7&application_id=758965&site_id=vwd&application_name=news
10: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=4c8459c7b505167c7363e0cbfe4d5a7b&application_id=758965&site_id=vwd&application_name=news
(END) Dow Jones Newswires
December 17, 2018 08:41 ET (13:41 GMT)
© 2018 Dow Jones News
