On Tuesday, Stephens reaffirmed its positive stance on Actinium Pharma (NYSE:ATNM), maintaining an Overweight rating and a $5.00 price target. The endorsement follows Actinium's recent third-quarter financial report and updates on its clinical development programs.
Actinium Pharma disclosed its third-quarter financial results on Monday, November 18, 2024, which included several significant updates regarding its clinical trials and regulatory interactions. The company has aligned with the FDA to conduct an operationally seamless randomized Phase 2/3 trial for Actimab-A combined with CLAG-M. Additionally, Actinium has successfully cleared two Investigational New Drug (IND) applications for Iomab-ACT targeting both a commercial CAR-T program and a trial for sickle cell disease.
The firm has also been actively seeking a strategic partner in the United States to further the clinical development of Iomab-B. These developments are central to Stephens' reiterated rating and price target, as they underscore the company's progress in advancing its clinical programs.
In light of the increased research and development expenditures, primarily due to the advancement of Actimab-A, Iomab-ACT, and preclinical development efforts, the analyst has revised the forecast for the company's full-year 2024 earnings per share to a loss of $1.50 from the previously estimated loss of $1.31.
Actinium ended the third quarter with a solid financial position, reporting $78.6 million in cash and cash equivalents. The company anticipates that these funds will be sufficient to support its operations into the year 2027. This financial stability, coupled with the clinical advancements, supports the analyst's continued confidence in the company's stock.
In other recent news, Actinium Pharmaceuticals (NYSE:ATNM) reported Q3 earnings with an EPS of ($0.37), slightly below H.C. Wainwright's expectation of ($0.36) and the consensus estimate of ($0.30). The company ended the quarter with $78.7 million in cash. It also maintained its Buy rating and a $4.00 stock price target.
Actinium is progressing its radio-therapeutic portfolio, discussing with the FDA the parameters of a new trial design for Iomab-B and aligning with the agency on a randomized Phase 2/3 trial design for Actimab-A.
The company has reported significant results from its Phase 3 SIERRA trial for Iomab-B, demonstrating an increase in durable Complete Remission and Event-Free Survival among patients aged 55 and above. However, the FDA has requested a new trial to demonstrate an overall survival benefit for Iomab-B. In response, Actinium is planning a new trial and is seeking a strategic partner for Iomab-B in the U.S.
Additionally, Actinium's Iomab-ACT program has received FDA clearance for an Investigational New Drug application to study its effect on patients with sickle cell disease undergoing bone marrow transplant, in collaboration with Columbia University. These are among the recent developments at Actinium Pharmaceuticals, which continues to strive to improve outcomes for patients with advanced blood cancers.
InvestingPro Insights
Recent InvestingPro data provides additional context to Actinium Pharma's (NYSE:ATNM) financial situation and market performance. The company's revenue for the last twelve months as of Q3 2024 stood at $0.08 million, with a gross profit of the same amount, indicating a 100% gross profit margin. However, the operating income was negative at -$44.96 million, reflecting the significant research and development expenses mentioned in the article.
InvestingPro Tips highlight that Actinium is not currently profitable and analysts do not anticipate profitability this year, aligning with the revised earnings per share forecast mentioned in the article. The stock has experienced significant declines, with a 6-month price total return of -85.51% and a year-to-date return of -72.05% as of the latest data.
Despite these challenges, InvestingPro Tips also note that Actinium's liquid assets exceed its short-term obligations, which supports the article's mention of the company's solid financial position with $78.6 million in cash and cash equivalents. This financial stability is crucial for supporting ongoing clinical trials and development efforts.
For investors seeking a more comprehensive analysis, InvestingPro offers 5 additional tips for Actinium Pharma, providing deeper insights into the company's financial health and market position.
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