LONDON, November 29, 2016 /PRNewswire/ --
Celyad has noted that the Phase I safety study on its NKR-2 CAR T-cellautologous therapy produced some "reports of clinical benefit". The THINK Phase Ib trial has been approved in Belgium and awaits FDA clearance. This is a major expansion of CAR therapy with five solid tumors plus AML
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Our valuation model for Celyad has been rebased to focus on NKR-2 indications. As Celyad is initiating an NKR-2 trial in solid tumors, these have also been added to the valuation but with caution as this could be a challenging set of indications and there is very little current clinical data on the NKR-2 product. The C-Cure value is unchanged at 35% probability and is now regarded as an indicative deal value on partnering. Celyad has also cut its cash burn to no more than $34m per year to conserve cash to mid-2019. These adjustments give an interim indicative value of $50 per share, formerly $46 per share.
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