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Stock impact report

Recently Listed Cancer Firm OnKure's Innovative Approach to Breast Cancer Treatment Sparks Analyst Enthusiasm [Yahoo! Finance]

OnKure Therapeutics, Inc. - Class A (OKUR) 
Company Research Source: Yahoo! Finance
completed its merger with Reneo Pharmaceuticals Inc . The combined company started trading on Monday. Concurrent with the closing of the merger, the company completed a $65 million private placement with a group of new and existing investors. Following the transactions, OnKure is expected to have a cash runway through multiple clinical readouts and into Q4-2026 The analyst initiated coverage with an Outperform rating with a price target of $35 and notes that OKI-219 can become the go-to option for one of the most frequent mutations in breast cancer. “We believe Onkure can address key limitations of currently approved targeted agents by reducing off-target toxicity with greater selectivity,” the analyst writes. The analyst's investment thesis on OnKure revolves around PI3Ka inhibition demonstrated by alpelisib, though its efficacy is limited by toxicity concerns OKI-219 promise as a third-generation PI3Ka inhibitor. Alpelisib is generic name for Novartis AG's (NYSE: NVS ) P Show less Read more
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