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Adaptimmune (ADAP) Surges More Than 80% in a Month: Here's Why
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Adaptimmune Therapeutics is a clinical-stage biopharmaceutical company focused on developing novel T-cell therapies targeting cancer indications.
The most advanced candidate in the company’s pipeline is afamitresgene autoleucel (or afami-cel), an engineered T-cell therapy for advanced synovial sarcoma, a malignant tumor that affects the tissue around the joints.
Since the past month, shares of Adaptimmunehave soared 83.1% compared with the industry’s 7.0% rise. The upside can be attributed to the completion of the company’s rolling biologics license application (BLA) filing with the FDA seeking approval for afami-cel in synovial sarcoma indication.
Image Source: Zacks Investment Research
Per the company, the last FDA-approved therapy for treating advanced synovial sarcoma was Novartis’ orally administered Votrient back in 2012. Afami-cel has been developed as a single-dose treatment option for this patient population.
This BLA is supported by data from the pivotal phase II SPEARHEAD-1 study, which achieved its primary endpoint for efficacy. Per management, around 70% of patients who responded to treatment with afami-cel are alive two years post-treatment.
At the JP Morgan Healthcare Conference held earlier this month, management announced that it expects the acceptance of this BLA with a priority review tag in the coming weeks. If approved, it plans to commercially launch the therapy before this year’s end, with the potential to generate up to $400 million in peak U.S. sales.
Adaptimmune intends afami-cel to be the first marketed product of its sarcoma franchise. Management is also evaluating another T-cell therapy, letetresgene autoluecel (lete-cel), in the pivotal mid-stage IGNYTE-ESO study in patients with advanced synovial sarcoma or myxoid/ round cell liposarcoma (MRCLS). The study has already achieved its primary endpoint for efficacy. The full data will be posted in the third quarter of 2024. It expects to launch this therapy by 2026.
With no marketed products/therapies in its portfolio, Adaptimmune is entirely dependent on the successful development of its investigational therapies. Any pipeline/regulatory setbacks are likely to mar the company’s growth prospects.
Adaptimmune currently carries a Zacks Rank #3 (Hold). Some other better-ranked stocks in the overall healthcare sector include CytomX Therapeutics (CTMX - Free Report) , Novo Nordisk (NVO - Free Report) and Sarepta Therapeutics (SRPT - Free Report) . While CytomX and Novo Nordisk sport a Zacks Rank #1 (Strong Buy), Sarepta carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for CytomX Therapeutics’ 2023 have improved from a loss of 10 cents per share to earnings of 2 cents. During the same period, the loss estimates per share for 2024 have narrowed from 22 cents to 6 cents. Shares of CytomX have lost 35.2% in the past year.
CytomX Therapeutics’ earnings beat estimates in three of the last four quarters while missing the estimates on one occasion. On average, the company witnessed an average surprise of 45.44%. In the last reported quarter, CytomX Therapeutics’ earnings beat estimates by 123.53%.
In the past 60 days, estimates for Novo Nordisk’s 2023 earnings per share have increased from $2.62 to $2.63. During the same period, the earnings estimates for 2024 have risen from $3.07 to $3.12. Shares of NVO have surged 54.2% in the past year.
Novo Nordisk’s earnings beat estimates in two of the last four quarters while meeting the mark on one occasion and missing the estimates on another. On average, the company witnessed an average surprise of 0.58%. In the last reported quarter, Novo Nordisk’s earnings beat estimates by 5.80%.
In the past 60 days, Sarepta’s loss estimates for 2023 have improved from a loss of $7.53 per share to $6.62. During the same period, earnings estimates per share for 2024 have risen from 46 cents to $1.99. Sarepta’s shares have lost 10.2% in the past year.
Sarepta’s earnings beat estimates in each of the last four quarters, delivering an average surprise of 48.67%. In the last reported quarter, Sarepta’s earnings beat estimates by 72.29%.
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Adaptimmune (ADAP) Surges More Than 80% in a Month: Here's Why
Adaptimmune Therapeutics is a clinical-stage biopharmaceutical company focused on developing novel T-cell therapies targeting cancer indications.
The most advanced candidate in the company’s pipeline is afamitresgene autoleucel (or afami-cel), an engineered T-cell therapy for advanced synovial sarcoma, a malignant tumor that affects the tissue around the joints.
Since the past month, shares of Adaptimmunehave soared 83.1% compared with the industry’s 7.0% rise. The upside can be attributed to the completion of the company’s rolling biologics license application (BLA) filing with the FDA seeking approval for afami-cel in synovial sarcoma indication.
Image Source: Zacks Investment Research
Per the company, the last FDA-approved therapy for treating advanced synovial sarcoma was Novartis’ orally administered Votrient back in 2012. Afami-cel has been developed as a single-dose treatment option for this patient population.
This BLA is supported by data from the pivotal phase II SPEARHEAD-1 study, which achieved its primary endpoint for efficacy. Per management, around 70% of patients who responded to treatment with afami-cel are alive two years post-treatment.
At the JP Morgan Healthcare Conference held earlier this month, management announced that it expects the acceptance of this BLA with a priority review tag in the coming weeks. If approved, it plans to commercially launch the therapy before this year’s end, with the potential to generate up to $400 million in peak U.S. sales.
Adaptimmune intends afami-cel to be the first marketed product of its sarcoma franchise. Management is also evaluating another T-cell therapy, letetresgene autoluecel (lete-cel), in the pivotal mid-stage IGNYTE-ESO study in patients with advanced synovial sarcoma or myxoid/ round cell liposarcoma (MRCLS). The study has already achieved its primary endpoint for efficacy. The full data will be posted in the third quarter of 2024. It expects to launch this therapy by 2026.
With no marketed products/therapies in its portfolio, Adaptimmune is entirely dependent on the successful development of its investigational therapies. Any pipeline/regulatory setbacks are likely to mar the company’s growth prospects.
Adaptimmune Therapeutics PLC Price
Adaptimmune Therapeutics PLC price | Adaptimmune Therapeutics PLC Quote
Zacks Rank & Stocks Consider
Adaptimmune currently carries a Zacks Rank #3 (Hold). Some other better-ranked stocks in the overall healthcare sector include CytomX Therapeutics (CTMX - Free Report) , Novo Nordisk (NVO - Free Report) and Sarepta Therapeutics (SRPT - Free Report) . While CytomX and Novo Nordisk sport a Zacks Rank #1 (Strong Buy), Sarepta carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for CytomX Therapeutics’ 2023 have improved from a loss of 10 cents per share to earnings of 2 cents. During the same period, the loss estimates per share for 2024 have narrowed from 22 cents to 6 cents. Shares of CytomX have lost 35.2% in the past year.
CytomX Therapeutics’ earnings beat estimates in three of the last four quarters while missing the estimates on one occasion. On average, the company witnessed an average surprise of 45.44%. In the last reported quarter, CytomX Therapeutics’ earnings beat estimates by 123.53%.
In the past 60 days, estimates for Novo Nordisk’s 2023 earnings per share have increased from $2.62 to $2.63. During the same period, the earnings estimates for 2024 have risen from $3.07 to $3.12. Shares of NVO have surged 54.2% in the past year.
Novo Nordisk’s earnings beat estimates in two of the last four quarters while meeting the mark on one occasion and missing the estimates on another. On average, the company witnessed an average surprise of 0.58%. In the last reported quarter, Novo Nordisk’s earnings beat estimates by 5.80%.
In the past 60 days, Sarepta’s loss estimates for 2023 have improved from a loss of $7.53 per share to $6.62. During the same period, earnings estimates per share for 2024 have risen from 46 cents to $1.99. Sarepta’s shares have lost 10.2% in the past year.
Sarepta’s earnings beat estimates in each of the last four quarters, delivering an average surprise of 48.67%. In the last reported quarter, Sarepta’s earnings beat estimates by 72.29%.