ContraFect (NASDAQ: CFRX) was featured in a recent equity research report published by Mizuho Securities USA LLC. The report reads, “ContraFect released 2Q21 earnings that were largely in line with expectations, but more importantly, disclosed that they are now seeing effects of the pandemic on the Phase 3 DISRUPT trial in terms of the monthly patient enrollment rate. While no delay has been formally specified, company commentary and our follow-up call with management suggest to us that the recent increases in COVID-19 infections and hospitalizations will likely push the planned interim analysis to early 2022 (vs. 2H21 previously). Assuming the delay, we now expect final data to release in mid- to late-2022, but we maintain our 70% POS for DISRUPT. With our 2Q model update, we reiterate our DCF-based $10 price target and Buy rating.”
About ContraFect Corp.
ContraFect is a biotechnology company focused on the discovery and development of DLAs, including lysins and amurin peptides, as new medical modalities for the treatment of life-threatening, antibiotic-resistant infections. An estimated 700,000 deaths worldwide each year are attributed to antimicrobial-resistant infections. The company intends to address life threatening infections using its therapeutic product candidates from its platform of DLAs, which include lysins and amurin peptides. Lysins are a new class of DLAs which are recombinantly produced antimicrobial proteins with a novel mechanism of action associated with the rapid killing of target bacteria, eradication of biofilms and synergy with conventional antibiotics. Amurin peptides are a novel class of DLAs which exhibit broad-spectrum activity against a wide range of antibiotic-resistant Gram-negative pathogens, including P. aeruginosa, Acinetobacter baumannii, and Enterobacter species. ContraFect believes that the properties of its lysins and amurin peptides will make them suitable for targeting antibiotic-resistant organisms, such as MRSA and P. aeruginosa, which can cause serious infections such as bacteremia, pneumonia and osteomyelitis. ContraFect has completed a Phase 2 clinical trial for the treatment of Staph aureus bacteremia, including endocarditis, with its lead lysin candidate, exebacase, which is the first lysin to enter clinical studies in the U.S. Exebacase, currently being studied in a pivotal Phase 3 clinical study, was granted Breakthrough Therapy designation by the FDA for the treatment of MRSA bloodstream infections, including right-sided endocarditis, when used in addition to SOC anti-staphylococcal antibiotics. For more information, visit the company’s website at www.ContraFect.com.
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