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Roth MKM started coverage of Genelux (NASDAQ:GNLX) with a buy rating, citing the company’s drug Olvi-Vec in the treatment of ovarian cancer.
The investment firm said that while it sees risk heading into a pivotal readout in 2025, it believes regionally delivered Olvi-Vec is “positioned to succeed” in platinum resistant/refractory disease.
Roth also sees value in systemically administered Olvi-Vec in the treatment of recurrent lung cancer. It added that interim readouts expected in 2024 and mid-2025 “have a chance to succeed and reprice the stock.”
Roth set its price target for the stock at $10.
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