Purple Biotech's Clinical Advancements Bolster Future Prospects

Purple Biotech's analyst Emily Bodnar has maintained a Buy rating and raised the price target to $34.00. The company's clinical advancements and strategic collaborations, particularly with NT219 and CM24 programs, have shown promising biomarker data and secured broad patent protection. A new Phase 2 study targeting recurrent/metastatic SCCHN is expected to initiate in the first half of 2025, and a pre-clinical research collaboration is set to explore the CAPTN-3 tri-specific antibody platform, with an IND filing anticipated in 2026.