Gritstone Oncology, Inc., an immuno-oncology company, engages in developing personalized cancer immunotherapies for various cancer types in the United States. It is developing GRANITE-001, a personalized immunotherapy product for cancer patients; and SLATE-001 for patients with common tumor neoantigens. The company was founded in 2015 and is based in Emeryville, California.
Gritstone Oncology (NASDAQ: GRTS) started the week as a little-known player in the coronavirus vaccine space. Its shares -- and market capitalization -- soared. Gritstone said its vaccine candidate targets that very problem.
Think coronavirus stocks are so 2020? Think again. Shares of Gritstone Oncology (GRTS) took off by a whooping 302% over the past two trading sessions, after the company disclosed promising news concerning the development of its second-generation coronavirus vaccine. The company has entered an agreement with the National Institute of Allergy and Infectious Diseases (NIAID) to initiate a phase 1 trial which focuses on Gritstone’s heterologous prime-boost strategyfor vaccination and makes use of the company’s EDGE algorithm for T-cell epitope selection. Phase 1 is anticipated to kick off in 1H21, and should it prove successful, a Phase 2 study will follow in 2H21.
With the price target unchanged at $8 per share, Baird lowers its recommendation on Gritstone Oncology (GRTS) to Underperform from Outperform, citing a ‘recent substantial upside’ in the stock despite ‘a myriad issues’ that the company’s COVID-19 vaccine development likely to encounter.After a five-day losing streak, the shares have added ~13.7% so...