Lpath Incorporated (LPTN) Street Sense Video:
Lpath, Inc. (LPTN) is a biotechnology company focused on the discovery and development of monoclonal antibodies targeted to bioactive lipids. Lipid-based therapeutics are an emerging field of medical science whereby bioactive signaling lipids are targeted for treating important human diseases that currently lack innovative and effective medicines.
Pipeline:
iSONEP™ (Phase 2): demonstrated excellent results in various preclinical AMD models and first-in-class results in a preclinical model of diabetic retinopathy. Collaboration agreement with Pfizer Inc. that could result in payments up to $517.5 million plus tiered double digit royalties to Lpath.
ASONEP™ (pre-Phase2): targeted sphingosine-1-phosphate (S1P); might also have applications in other diseases like multiple sclerosis, colitis and other inflammatory disorders.
Lpathomab™ (preclinical): targeted lysophosphatidic acid (LPA) for diseases of the central nervous system, fibrosis, ocular disease and cancer. Demonstrated strong preclinical activity in several animal models of these diseases, including neuropathic pain, diabetic neuropathy, traumatic brain injury, spinal cord injury, fibrosis (pulmonary and renal), and cancer.
Pfizer (NYSE: PFE) provided Lpath with an upfront option payment of $14 million in addition to sharing the cost of the planned iSONEP™ trials. Following completion of the two studies, Pfizer has the right to exercise its option for worldwide rights to iSONEP for an undisclosed option fee and, if Pfizer exercises its option, Lpath will be eligible to receive development, regulatory and commercial milestone payments that could total up to $497.5 million; in addition, Lpath will be entitled to receive tiered double-digit royalties based on sales of iSONEP. As part of the agreement, Lpath has granted to Pfizer a time-limited right of first refusal for ASONEP(TM), Lpath’s product candidate that is being evaluated for the treatment of cancer. Two Phase 2a trials are currently planned to further assess ASONEP’s efficacy and safety in cancer patients.
Analysts estimate:
Morgan Joseph targeted LPTN to $8/share in less than 18 months from now based on the drug candidate worth of $710 million on a risk-adjusted basis with a peak global sales target of $3.6 billion.
Aegis Capital rated Lpath Inc. (LPTN) as a Buy with price target $6/share
iSONEP™ may offer a cure for the wet AMD patients. Fast-track FDA approval is doable.
Renewal of iSONEP™ trials set for early August. Pfizer (NYSE: PFE) acquisition of the Lpath’s ImmuneY2™ drug-discovery engine is feasible.
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