Oppenheimer: Time To Buy Trillium Therapeutics

In a report published Friday, Oppenheimer analysts initiated coverage ofTrillium Therapeutics Inc TRIL with an Outperform rating and a price target of $32. Trillium Therapeutics is an immuno-oncology company developing therapies for the treatment of cancer. The company's lead product SIRPαFc is an antibody-like fusion protein that blocks the functioning of CD47, a molecule that prevents the destruction of tumor cells by the immune system. The company is initially investigating SIRPαFc for the treatment of AML/MDS. "However, we anticipate that, in the next 12-18 months, given the broad utility approach, Trillium will launch trials in several hematological malignancies and solid tumor settings as a single agent or in combination with the current standard of care. We anticipate that each of the upcoming trials could yield profound results, not unlike those recently demonstrated with anti-PD1 molecules, and yield rapid routes to registration," the analysts mentioned. Trillium's pipeline of next-generation SIRPαFc molecules with differentiated activity may be used to develop therapies for treatment of several other problems. "CD47 expression is also implicated in cardiovascular, inflammatory disorders and disorders of ageing," the analysts added.