Craig-Hallum has initiated coverage on Actuate Therapeutics (ACTU, Financial) with a Buy rating and set a price target of $21. The investment firm is optimistic about the interim results from the Phase II randomized study of elraglusib, combined with standard of care (SOC) gemcitabine and nab-paclitaxel (GnP), for the first-line treatment of metastatic pancreatic ductal adenocarcinoma (mPDAC).
The analysis, based on Kaplan-Meier statistics, suggests that the interim data is likely to demonstrate a statistically significant and clinically meaningful improvement in median overall survival (mOS) compared to the use of GnP alone. The upcoming topline results are expected to be disclosed in April and have the potential to enhance Actuate Therapeutics’ value and strengthen their financial position for further development in the first-line mPDAC treatment space.
Additionally, Actuate Therapeutics is advancing other pipeline programs, including studies involving a cohort of Ewing sarcoma patients. Topline results from these studies are anticipated in the latter half of 2025, which may further bolster the company’s prospects.
