Is it a Good Idea to Buy Fusion Pharmaceuticals (FUSN) Stock Now?
Fusion Pharmaceuticals FUSN makes next-generation radiopharmaceuticals as precision medicines. It has a diversified pipeline of targeted alpha therapy (TAT) programs.
Its key clinical-stage pipeline candidates are FPI-2265, a small molecule-based TAT targeting prostate-specific membrane antigen for the treatment of metastatic castration-resistant prostate cancer (mCRPC), and FPI-1434, which is in phase I for patients with solid tumors expressing IGF-1R.
Preliminary data from approximately 20 to 30 patients from the phase II study (TATCIST) on FPI-2265 are expected to be released in April 2024. Target enrollment has been achieved in the study.
Earlier this month, Fusion Pharmaceuticals announced that it has achieved alignment with the FDA on a submitted protocol and development plan for FPI-2265, thus establishing a potential path to registration for the candidate. A phase III registrational study is expected to begin in 2025. Fusion Pharmaceuticals expects to initiate a combination study of FPI-2265 plus Merck MRK/AstraZeneca’s AZN Lynparza (Olaparib) in earlier lines of mCRPC treatment in the first half of 2024.
Fusion Pharmaceuticals has also entered into a collaboration with Merck to evaluate FPI-1434 in combination with the latter’s blockbuster PD-L1 inhibitor, Keytruda, in patients with solid tumors expressing IGF-1R.
In April 2023, Fusion Pharmaceuticals received IND clearance to begin clinical development of FPI-2068, its novel TAT candidate, which targets solid tumors expressing EGFR-cMET. Fusion Pharmaceuticals is jointly developing FPI-2068 with AstraZeneca under the companies' multi-asset collaboration agreement. Pre-clinical data on the candidate has demonstrated strong anti-tumor activity and confirmatory evidence of FPI-2068's mechanism of action.
Fusion Pharmaceuticals’ stock has risen 131.1% in the past year against a decrease of 3.1% for the industry.
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The consensus estimate for 2024 loss has narrowed from $1.63 per share to $1.38 per share over the past 90 days. The company has a Zacks Rank #1 (Strong Buy).
Fusion Pharmaceuticals Inc. Price and Consensus
Fusion Pharmaceuticals Inc. price-consensus-chart | Fusion Pharmaceuticals Inc. Quote
Another Stock to Consider
Another stock in the drug/biotech sector worth considering is Novo Nordisk NVO, which also sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Estimates for Novo Nordisk’s 2024 earnings per share have increased from $3.07 to $3.12 over the past 60 days. NVO’s stock has surged 54.3% in the past year.
Novo Nordisk beat estimates in two of the last four quarters, missed in one and matched in one, delivering an earnings surprise of 0.58% on average.
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