Press Release Details

First Berlin Equity Research on 01/21/2025 initiated coverage on Lisata Therapeutics, Inc. (ISIN: US1280583022/ Bloomberg: LSTA US). Analyst Christian Orquera placed a BUY rating on the stock, with a USD 15.00 price target. A summary of the report is available below. To view the full report, please Click Here

CERTEPETIDE – THE COMPANION OF CHOICE TO IMPROVE CANCER THERAPY

Abstract: Lisata Therapeutics Inc (Lisata), previously Caladrius Biosciences and renamed after the merger with Cend Therapeutics in 2022, is a US clinical-stage pharmaceutical company focused on the development of innovative therapies for the treatment of advanced solid tumours and other serious diseases. Its lead drug candidate, certepetide, is a peptide with a dual mode of action which (1) enhances penetration of co-administered anti-cancer drugs into solid tumours and (2) modifies the tumour microenvironment (TME) by reducing immunosuppressive cell populations, such as regulatory T cells (Tregs), and increasing cytotoxic T cells. This modulation has the potential to enhance the efficacy of chemo- and immunotherapies and concurrently inhibit the progression of metastasis, making certepetide an ideal combination with standard cancer therapy. The drug candidate is in clinical development in seven trials for a number of indications: (1) 1st and 2nd line metastatic pancreatic ductal adenocarcinoma (mPDAC), (2) locally advanced non-resectable PDAC, (3) 1st and 2nd line cholangiocarcinoma, (4) 1st line glioblastoma multiforme and (5) pancreatic, colon and appendiceal cancer. In addition, Lisata has licensed the exclusive rights for certepetide in Greater China to Qilu Pharmaceuticals under a lucrative agreement with potential milestone payments of up to USD221m. Qilu conducted a phase 1b/2a study and is now carrying out a phase 2 study in the lead 1st line mPDAC indication. Lisata's own ongoing two-cohort ASCEND phase 2b study in 1st line mPDAC is expected to report results from the first cohort in January 2025 and from the second cohort by Q2/Q3 2025. We see 2025 as an exciting year for Lisata as we also expect results on the other ongoing trials of certepetide, which will likely act as a catalyst for the share price. Our sum-of-the-parts valuation model yields a price target of USD15.00. We initiate coverage of Lisata with a Buy recommendation.