Report

Viralytics - Cavatak/Yervoy combo enters the spotlight

Viralytics’ presentations at AACR highlighted an impressive 36% response rate when melanoma patients refractory to the best available PD1/L1 checkpoint inhibitor therapy were treated with its Cavatak virotherapy plus Yervoy. It has expanded the Phase Ib MITCI trial to recruit an extra 44 patients who have failed prior PD1/L1 therapy, which could put it on track to a pivotal study or even provide a potential pathway to accelerated approval. The CAPRA study of Cavatak plus Keytruda in melanoma was expand to enrol up to 50 patients following a 60% response rate in the first 15 assessable patients. We increase success probability for Cavatak from 35% to 40% and lift our valuation to A$408m or A$1.70/share from A$385m.
Underlying
VIRALYTICS LTD I

Viralytics is engaged in advancing the clinical and preclinical development of its product CAVATAK™. Co. is actively progressing with development of CAVATAK across a range of cancers within targeted clinical trials.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Dr Dennis Hulme

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