Nuvation Bio's (NUVB) updated phase 2 data for safusidenib in Japanese patients with grade 2 IDH1-mutant glioma strengthens the drug's long-term potential, supported by improved objective response rates, durable progression-free survival and a favorable safety profile, Wedbush Securities said in a Monday note.
The brokerage noted that Nuvation plans to launch a pivotal ex-US phase 3 trial in newly diagnosed grade 2 IDH1-mutant glioma patients and a phase 2 study in patients whose disease has progressed after prior treatment with vorasidenib.
The expanded development plan could widen safusidenib's market potential beyond the pivotal SIGMA study by targeting both treatment-naive and post-vorasidenib patients, with initial results from an exploratory post-surgical grade 3 oligodendroglioma cohort expected in 2027, the brokerage added.
Wedbush maintained an outperform rating on the stock with an $11 price target.
Nuvation Bio shares were up 11% in Monday trading.
Price: $6.46, Change: $+0.66, Percent Change: +11.29%