The firm expects a promising treatment for acute leukemia could drive upside for the stock.
A promising treatment for acute leukemia makes Syndax Pharmaceuticals an attractive stock, JPMorgan said. Analyst Anupam Rama initiated coverage of Syndax with an overweight rating ahead of what could be significant new data on the company's cancer therapy called revumenib.
The analyst is anticipating key data on revumenib from the ongoing AUGMENT-101 study into relapsed leukemia populations to start coming out in the third quarter of 2023, which could drive upside for the stock, according to the note. "Our peak sales estimate for revumenib of ~ $1.3BWW is at the mid-point / slight higher end of the Street peak sales range and probability of success at the higher end of the Street range," read the note.
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