Genenta Science SPA (GNTA)

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Maxim starts Genenta Science at buy; PT $21

Stephen Kilmer

January 13, 2022

Maxim Group launched coverage of Genenta Science S.p.A (NASDAQ:GNTA) with a “buy” rating and $21 price target. The stock closed at $9.94 on Jan. 12.

Genenta is developing cancer therapeutics using an autologous ex-vivo, lentiviral-based gene therapy strategy.

The company initially is targeting unmethylated-MGMT glioblastoma multiforme (GBM) patients with its lead gene therapy, Temferon, which is currently being evaluated in a Phase 1/2 dose-escalation study. Data from the latter two cohorts are expected around the end of 2022.

“Tumor agnostic gene therapy, Temferon, can potentially be applied broadly to multiple cancer types because it is not tumor dependent,” writes analyst Naureen Quibria, Ph.D.

She said lentiviral-based gene therapy is a validated approach, with treatment approvals seen in Kymriah for acute lymphoblastic leukemia and diffuse large B-cell lymphoma, Zynteglo for ß-thalassemia, and Libmeldy for metachromatic leukodystrophy.

Genenta’s Temferon, has also demonstrated initial signals of efficacy in its Phase 1/2 clinical study in GBM, as well as robust activity in multiple tumor models in preclinical studies.

“Though the program is somewhat early, we believe the broad utility of the platform and potential durability of the approach support a ‘buy’ rating and our $21 price target,” Dr. Quibria said.