ATNM Actinium Pharmaceuticals Inc

Actinium Pharmaceuticals Inc (ATNM-US): Improving access to CAR-T

goetzpartners securities Limited
Actinium Pharmaceuticals Inc (ATNM-US): Improving access to CAR-T

28-Sep-2018 / 07:39 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 28th September 2018 @ 7.17am (London time).

 

Actinium Pharmaceuticals Inc (ATNM-US): Improving access to CAR-T
Recommendation: OUTPERFORM
Target Price: USD$4.00
Current Price: USD$0.76 (COB on 27th September 2018)

KEY TAKEAWAY

With its molecular-targeted radio-therapy Iomab-B showing promise and in a pivotal Phase III for bone marrow transplant, Actinium has initiated a programme to use lower dose (Iomab-ACT) to boost safety and efficacy of the much-vaunted CAR-T therapy in blood cancers. While the tens of billions USD spent on CAR-T assets highlight the potential, the extreme cost and safety concerns surrounding CAR-T have so far held back uptake of the two marketed products Kymriah (Novartis) and Yescarta (Kite Pharma / Gilead). Based on previous data, Actinium believes that replacing the current toxic pre-CAR-T conditioning regimen with targeted radiotherapy could improve patient outcomes, potentially reducing barriers to reimbursement and expanding patient access. Although the true scale of the CAR-T Iomab-ACT opportunity is unclear at this early stage, Actinium's new initiative further highlights the potential of its molecular-targeted radiotherapy in blood and immune diseases. We maintain and reiterate both our OUTPERFORM recommendation and TP of $4.00 / share as detailed in our initiation report of April 2018.

Benefits of Iomab-ACT over chemo - Successful CAR-T therapy requires depletion of patient lymphocytes prior to treatment. Iomab-ACT therapy promises to provide specific targeting of lymphocytes, including cancer cells, provided by one dose in an out-patient setting. Current fludaribine / cyclophosphamide ("Flu-Cy") leads to non-specific blood cell depletion as well as other toxicity and requires multiple infusions over a number of days. Iomab-ACT has the potential for better efficacy, safety and convenience.

CAR-T benefits come at a cost - The benefits of the already marketed products Kymriah and Yescarta in helping otherwise hopeless patients beat treatment refractory blood cancers including acute lymphoblastic leukaemia ("ALL"), diffuse large cell lymphoma ("DLCL") are well known. However, the enormous cost of manufacturing and supplying these personalised therapies (treatment costs approaching $500k) presents a significant barrier to reimbursement.

Improved outcomes could facilitate reimbursement - Given the sky-high cost, payers increasing looking towards outcome-based reimbursement schemes for CAR-T based therapies. The improved safety and efficacy promised by Iomab-ACT compared to existing chemotherapeutic Flu-Cy regimens could facilitate such an outcome-based approach.

Documented safety and efficacy of Iomab - Low dose Iomab has already been shown to deplete lymphocytes and is safe at much greater doses as documented in over 500 patients undergoing pre-bone marrow transplant conditioning. While Actinium has yet to disclose details, a relatively simple dosing trial of Iomab-ACT in combination with CAR-T is in planning by its clinical collaborators.

Providing CAR-T players with freedom to operate - Flu-Cy lymphocyte depletion regimens for CAR-T is covered by a patent filed by Kite Pharma (owned by Gilead). An effective alternative conditioning pathway patented by Actinium could provide other CAR-T players freedom to operate.

Significant upside - The prospect of significant clinical news flow from Actimab in H2/2018E and pivotal readout on Iomab-B suggests significant upside from current levels. As detailed in our initiation report of April 2018, our valuation suggests that Actinium still remains fundamentally undervalued at current levels. Our analysis indicates a current fair value of $2.60 per share rising to $5.00 per share on the back of positive phase 2 data in H2/2018E. We maintain and reiterate both our OUTPERFORM recommendation and target price of $4.00 per share.

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 | /

Registered in England No. 04684144.

Managing Directors: Dr Stephan Goetz, Martin Brunninger and Ulrich Kinzel.


to see our privacy policy.

 

GPSL has a formal client relationship with Actinium Pharmaceuticals Inc.

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 ("") - 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:

: 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 e-mail (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 e-mail in error or are not the intended recipient of this e-mail, please delete and destroy all copies in your possession, notify the sender that you have received this e-mail, and note that any review or dissemination of, or the taking of any action in reliance on this e-mail is expressly prohibited. GPSL shall not be liable for the improper or incomplete transmission of the information contained in this e-mail nor for any delay in its receipt or damage to your system. GPSL does not guarantee that the integrity of this e-mail has been maintained nor that this e-mail 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. 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 Equity Research publications are available on the following aggregators and via news distribution circuits (For Institutional Use Only): AlphaSense, Bloomberg (GOET), Capital IQ, EQS, FACTSET, Research Tree, RNS Reach and Thomson Reuters.

Please copy the below link and paste it into your browser for the full pdf version of the equity research report:

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

728461  28-Sep-2018 

fncls.ssp?fn=show_t_gif&application_id=728461&application_name=news&site_id=research_pool
EN
28/09/2018

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Actinium Pharmaceuticals Inc

 PRESS RELEASE

Actinium Pharmaceuticals Inc (ATNM-US): Improving access to CAR-T

goetzpartners securities Limited Actinium Pharmaceuticals Inc (ATNM-US): Improving access to CAR-T 28-Sep-2018 / 07:39 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 28th September 2018 @ 7.17am (London time).   Actinium Pharmaceuticals Inc (ATNM-US): Impro...

 PRESS RELEASE

Actinium Forms Nuclear Medicine Focused Advisory Board to Facilitate P...

Actinium Forms Nuclear Medicine Focused Advisory Board to Facilitate Pipeline Clinical Development and Iomab-B Commercial Planning NEW YORK, July 17, 2018 (GLOBE NEWSWIRE) -- Actinium Pharmaceuticals, Inc.  (NYSE AMERICAN:ATNM) ("Actinium" or "the Company"), today announced that it has appointed the members of its Nuclear Medicine Clinical Advisory Board.  The following nuclear medicine physicians and scientists have joined the Company’s advisory board: MemberMedical Institution Affiliation David Colcher, Ph.D. City of HopeJohannes Czernin, M.D.UCLAGhassan El-Haddad, M.D.Moffitt Cancer Ce...

 PRESS RELEASE

Actinium to Host Webcast on July 10, 2018 to Discuss Actimab-A MRD cli...

Actinium to Host Webcast on July 10, 2018 to Discuss Actimab-A MRD clinical trial for Minimal Residual Disease in Postremission AML Patients Minimal Residual Disease is increasingly recognized as a primary driver of high AML relapse with a need for improved consolidation therapiesWebcast to be held on July 10, 2018 at 8:00 AM ET to discuss planned trial featuring Dr. Joseph Jurcic, Director of the Hematologic Malignancies Section at Columbia University Medical Center who is leading this effort NEW YORK, July 09, 2018 (GLOBE NEWSWIRE) -- Actinium Pharmaceuticals, Inc. (NYSE AMERICAN:ATNM...

 PRESS RELEASE

Actinium Announces New Clinical Trial to Study Effect of Actimab-A on ...

Actinium Announces New Clinical Trial to Study Effect of Actimab-A on Minimal Residual Disease in Postremission AML Patients Minimal Residual Disease is increasingly recognized as a primary driver of high AML relapse rate highlighting need for improved consolidation therapies Webcast to be held on July 10, 2018 at 8:00 AM ET to discuss planned trial featuring Dr. Joseph Jurcic, Director of the Hematologic Malignancies Section at Columbia University Medical Center who is leading this effort NEW YORK, June 28, 2018 (GLOBE NEWSWIRE) -- Actinium Pharmaceuticals, Inc. (NYSE AMERICAN:ATNM)...

 PRESS RELEASE

Actinium Pharmaceuticals Announces Dosing of 38th Patient and 25 Perce...

Actinium Pharmaceuticals Announces Dosing of 38th Patient and 25 Percent Enrollment in Iomab-B Pivotal SIERRA Trial Iomab-B remains the only targeted conditioning treatment in clinical trials with the potential to increase access to and improve outcomes of bone marrow transplant              NEW YORK, June 26, 2018 (GLOBE NEWSWIRE) -- Actinium Pharmaceuticals, Inc. (NYSE AMERICAN:ATNM) ("Actinium" or "the Company"), today announced that it has dosed the 38th patient in the pivotal Phase 3 SIERRA (Study of Iomab-B in Elderly Relapse Refractory Acute Myeloid Leukemia) study of Iomab-B, rea...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch