POINT8 Dec 2023 15:54
POINT Biopharma having a good day so far. Closed at USD$13.95 last night (07/12/23), around ~11.5% higher than Lilly’s $12.50 offer, now at ~$14.10. There is a view among investors that any valuation should be done after trial results.
Phase 3 (SPLASH Trial). “PNT2002 is a PSMA-Targeted therapy for metastatic castration-resistant prostate cancer (mCRPC).” “PNT2002 combines a PSMA-targeted ligand, PSMA-I&T, with the beta-emitting radioisotope lutetium-177.”
Also, in pre-Clinical, “PNT2001 is a next-generation PSMA-targeted radioligand.” “Patients diagnosed with prostate cancer can live many years, increasing the risk of latent radiation toxicity appearing from off-target delivery of radiation. “ “PNT2001 attempts to address these concerns through unique linker technology that enables increased tumor accumulation, potentially enabling lower doses of radioisotope, reducing off-target toxicity without affecting tumor kill.”
Then they have a trial that is targeting FAP – not CanSEEK™ (AKA pre | CISION™). This is a 2-stage process involving FAP/PETI imaging with gallium-68 (positron emission decay radioisotope), then delivery of lutetium-177 (beta emission decay radioisotope) to the ‘illuminated’ target. The Phase 1 (FRONTIER Trial) – “PNT6555 is an early-stage radioligand that targets Fibroblast Activation Protein-α (FAP-α), which is highly expressed on a wide range of solid tumors. PNT6555 was developed in collaboration with Dr. William Bachovchin at Tufts …”
“FAP-α is a compelling pan-cancer target for imaging and therapy because it is found in greater than 90% of epithelial tumors.” Note – ‘imaging therapy’ without CanSEEK™. “The Phase 1 clinical trial ("FRONTIER") commenced in the summer of 2022 in Canada and uses a gallium-68 (68Ga)-based PNT6555 molecular imaging agent to select patients to receive a no-carrier-added (n.c.a.) lutetium-177 (177Lu)-based PNT6555 therapeutic agent.”
In summary (only my interpretation of reading the POINT website, so DYOR). They have a PSMA (prostrate cancer) targeting trial with PNT2002, but seem to be working on the successor with PNT2001? Then we have the FAP targeting trial with PNT6555 that requires the delivery of 2 radioisotopes for ‘illumination’ and then cancer killing. No evidence of any trials so far commenced with CanSEEK™,
Radiation is always ‘on’. Whatever the delivery mechanism the radiation is not ‘turned off’. Unlike the pre | CISION™ delivery of chemo prodrugs, such as AVA6000, which renders doxorubicin inert until activated by FAP. Also the radioisotope supply chain is quite challenging.
Like Point we are also wating for a trial readout and, like Point, we also have a pipeline of cancer therapies including AVA3996 and Affimer® based AVA028 and AVA021 for example. (Additionally a decent little DX business).
Chemo made much safer and (potentially) effective vs radiotherapy? Lilly value Point at
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