BRIDGEWATER, NJ - Tharimmune, Inc. (NASDAQ:THAR), a clinical-stage biotechnology firm, announced an exclusive licensing agreement with Washington University in St. Louis to develop and commercialize a series of antibodies targeting the human HER2 protein, often associated with cancer.
This collaboration aims to expand Tharimmune's early-stage pipeline with novel multi-specific antibodies against a critical tumor target.
The technology, originating from Washington University's School of Medicine, includes multiple hybridomas and antibodies specifically directed towards HER2. Prof. Schreiber of Washington University highlighted the significance of novel treatments for HER2 and expressed optimism about Tharimmune advancing the research.
Tharimmune's ongoing projects target HER2 and HER3, which are part of the ERBB receptor family implicated in cancer cell proliferation and metastasis. The company's strategy involves developing antibodies that bind to various epitopes on HER2, potentially offering a complementary approach to existing therapies and interacting with HER3 to affect tumor cell signaling.
The agreement enables Tharimmune to further develop its portfolio, including antibody drug conjugates (ADCs) and antibodies derived from bovine sources with ultra-long complementary determining region 3 (CDR3) domains. These smaller, diverse structures may access previously unreachable epitopes on validated targets.
Tharimmune's lead clinical-stage asset, TH104, addresses chronic pruritus in primary biliary cholangitis (PBC), a rare liver disease. The company's immunology pipeline also includes multi-specific antibodies targeting solid tumors, with a focus on well-known targets like PD-1, HER2, and HER3.
The announcement contains forward-looking statements regarding Tharimmune's future operations and prospects. However, these are subject to various risks and uncertainties, and actual results may differ. The company's views may change, and they do not commit to updating forward-looking statements except as required by law.
This news is based on a press release statement from Tharimmune, Inc.
InvestingPro Insights
In light of Tharimmune's recent licensing agreement to enhance their antibody development against cancer targets, financial metrics and analyst insights provided by InvestingPro paint a comprehensive picture of the company's current market position. Tharimmune's market capitalization stands at a modest $4.37 million, reflecting the small scale of this clinical-stage biotech firm.
Despite ambitious projects in their pipeline, the company's financial performance has been challenging, with a negative price-to-earnings (P/E) ratio of -0.054 for the last twelve months as of Q4 2023, suggesting that profitability is not on the immediate horizon.
InvestingPro Tips indicate that Tharimmune holds more cash than debt, which is a positive sign of financial health, especially for a company engaged in capital-intensive research and development. Moreover, the company's liquid assets exceed its short-term obligations, providing some financial flexibility in the near term.
Still, analysts do not expect Tharimmune to be profitable this year, and the stock price has experienced significant volatility. Over the last year, the stock price has plummeted by an alarming 98.26%, underscoring the high-risk nature of investing in early-stage biotech companies.
For investors considering Tharimmune as a potential addition to their portfolio, it's important to note that the stock has been under considerable pressure, as evidenced by a 92.21% drop over the last six months. The company's investment in novel cancer therapies is certainly a factor to watch, but the financial metrics suggest caution.
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