Inhibikase Therapeutics, Inc. IKT

Inhibikase Therapeutics Stock (NASDAQ:IKT), Analyst Ratings, Price Targets, Predictions
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Consensus Rating1
Hold
Highest Price Target1
$5.00
Lowest Price Target1
$5.00
Consensus Price Target1
$2.50

Next week will one month for FDA hold

Inhibikase Therapeutics Announces FDA Clearance Of Investigational New Drug Application For IkT-001Pro For The Treatment Of Chronic Myelogenous Leukemia
Mentioned: IKT
Inhibikase Therapeutics, Inc. (NASDAQ:IKT) (Inhibikase), a clinical-stage pharmaceutical company developing protein kinase inhibitor therapeutics to modify the course of Parkinson's disease, Parkinson's-related disorders and other diseases of the Abelson Tyrosine Kinases, today announced that the U.S. Food and Drug Administration (FDA) has reviewed its Investigational New Drug (IND) application for IkT-001Pro for the treatment of Chronic Myelogenous Leukemia (CML) and issued a Study May Procced (SMP) letter.

IkT-001Pro is a prodrug formulation of imatinib mesylate and has been developed to improve the safety of the first FDA-approved Abelson (Abl) kinase inhibitor, imatinib (marketed as Gleevec®). Imatinib is commonly taken for hematological and gastrointestinal cancers that arise from Abl kinase mutations found in the bone marrow or for gastrointestinal cancers that occur from c-Kit and/or PDGFRa/b mutations in the stomach; c-Kit, PDGFRa/b and Abl are all members of the Abelson Tyrosine Kinase protein family. IkT-001Pro has the potential to be a safer alternative for patients and may improve the number of patients that reach and sustain major and/or complete cytogenetic responses in stable-phase CML. In preclinical studies, IkT-001Pro was shown to be as much as 3.4 times safer than imatinib in non-human primates, reducing burdensome gastrointestinal side effects that occur following oral administration. Imatinib delivered as IkT-001Pro was granted Orphan Drug Designation for stable-phase CML in September, 2018.

"We are excited to have received the SMP letter from the FDA for IkT-001Pro for CML. This represents the first program to emerge from our novel prodrug platform, which aims to improve the safety and tolerability of approved and novel therapeutics," commented Milton H. Werner, Ph.D., President and Chief Executive Officer. "Based on preclinical studies, we believe that IkT-001Pro has the potential to significantly improve the safety profile of oral imatinib, which may enhance patient adherence and quality of life, potentially leading to better rates of complete cytogenetic response. We look forward to initiating a bioequivalence study in the second half of 2022."

Voting today to select board members and other stuff

Analyst Forecast
According to 5 analysts, the average rating for IKT stock is "Buy." The 12-month stock price forecast is 6.12, which is an increase of 494.17% from the latest price.

Price Target
$6.12
(494.17% upside)
Analyst Consensus: Buy

Inhibikase Therapeutics, Inc. (IKT)
NASDAQ: IKT · IEX Real-Time Price · USD
0.690 -0.008 (-1.22%)
May 17, 2022 10:35 AM EDT - Market open
Overview
Financials
Statistics
Forecast
Dividends
Profile
Chart

1D

5D

1M
YTD

1Y

5Y
Max
-1.22%
Market Cap
17.54M
Revenue (ttm)
1.74M
Net Income (ttm)
-16.79M
Shares Out
25.23M
EPS (ttm)
-0.81
PE Ratio
n/a
Forward PE
n/a
Dividend
n/a
Ex-Dividend Date
n/a
Volume
26,169
Open
0.700
Previous Close
0.699
Day's Range
0.670 - 0.700
52-Week Range
0.655 - 6.410
Beta
n/a
Analysts
Buy
Price Target
6.12 (+780.4%)
Earnings Date
May 16, 2022

About IKT
Inhibikase Therapeutics, Inc., a clinical stage pharmaceutical company, develops therapeutics for Parkinson's Disease (PD) and related disorders that arise inside and outside of the brain. The company's product candidates include IkT-148009, a small molecule Abelson tyrosine kinase inhibitor for use in the treatment of PD, as well as gastrointestinal complications that arise as early symptoms of PD, such as swallowing, dysphagia, neurogenic constipation, and multiple system atrophy; and IkT-001Pro, a prodrug of the anti-cancer agent Imatinib th... [Read more...]
Industry
Biotechnology
IPO Date
Dec 23, 2020
Employees
6
Stock Exchange
NASDAQ
Ticker Symbol
IKT
Full Company Profile
Financial Performance
In 2021, IKT's revenue was $3.10 million, an increase of 343.92% compared to the previous year's $698,468. Losses were -$14.79 million, 419.2% more than in 2020.

Financial Statements
Analyst Forecast
According to 5 analysts, the average rating for IKT stock is "Buy." The 12-month stock price forecast is 6.12, which is an increase of 780.45% from the latest price.

Price Target
$6.12
(780.45% upside)
Analyst Consensus: Buy

Analyst Forecast
According to 5 analysts, the average rating for IKT stock is "Buy." The 12-month stock price forecast is 6.12, which is an increase of 786.96% from the latest price.

Price Target
$6.12
(786.96% upside)
Analyst Consensus: Buy

Analyst Forecast
According to 5 analysts, the average rating for IKT stock is "Buy." The 12-month stock price forecast is 10.71, which is an increase of 638.62% from the latest price.

Price Target
$10.71
(638.62% upside)
Analyst Consensus: Buy

https://www.theglobeandmail.com/investing/markets/stocks/IKT/pressreleases/2815758/