On Thursday, Roth/MKM reiterated its Buy rating on shares of Bio-Path Holdings (NASDAQ:BPTH), maintaining a $40.00 price target. The biotechnology company recently announced the successful completion of the second dose cohort in its Phase 1/1b trial of BP1002, which is being evaluated for the treatment of relapsed or refractory acute myeloid leukemia (AML).
The trial's progression has reached a significant milestone with no dose-limiting toxicity observed at dose level 2. This result follows the successful completion of dose cohort 1. The trial is temporarily pausing for a data review by the U.S. Food and Drug Administration (FDA) before proceeding to the next higher dose of 60mg/m2.
The ongoing clinical study is divided into two parts. The first phase focuses on BP1002 as a monotherapy. Upon its completion, the study will transition into the Phase 1b portion, which will explore the effects of BP1002 in combination with the chemotherapy agent decitabine in patients with the same condition.
Bio-Path Holdings is at a critical juncture as it awaits the FDA's feedback before continuing with the higher dose testing. The outcome of this review will determine the next steps for the development of BP1002 as a potential treatment for AML. The company's shares continue to be watched closely by investors, as clinical developments can have significant impacts on the stock's performance.
InvestingPro Insights
As Bio-Path Holdings (NASDAQ:BPTH) garners attention with its clinical trial advancements, a glance at the company's financial health and market performance offers additional context for investors. An InvestingPro analysis reveals that Bio-Path Holdings holds more cash than debt on its balance sheet, which could be a point of stability for the company. However, the company faces challenges with weak gross profit margins and is not expected to be profitable this year, as per analysts' forecasts.
InvestingPro Data indicates a market capitalization of approximately $4.36 million, underscoring the company's small-cap status. The stock has experienced a significant downturn, with a 1-month price total return of -33.33% and a 3-month return of -61.42%, highlighting recent bearish sentiment. Furthermore, the company's Price / Book ratio stands at 5.54 as of the last twelve months, which suggests a premium valuation compared to the book value of its assets.
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