Leap Therapeutics Inc (LPTX)

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LPTX Piper ups Leap Therapeutics target to $6 following DKN-01's ASCO GI Update Jan. 23
Piper Sandler analyst Joseph Catanzaro raised the firm's price target on Leap Therapeutics (LPTX) to $6 from $5 and keeps an Overweight rating on the shares. Following the ASCO GI update for DKN-01, Leap hosted a conference call on Friday to walk through the data and lay out potential next steps, the analyst notes. When considering potential treatment effect, Catanzaro thinks the signal in DKK1-high patients looks even more compelling. Leap believes it could initiate a small randomized Phase II as part of the current IND that could generate data in 2023, while simultaneously engaging regulatory agencies on registrational strategies. Most notably, BeiGene's (BGNE) opt-in decision for Asian rights will almost certainly be a 2022 event, and the analyst continues to believe the ASCO GI update should make that a straightforward choice.