Benzinga | May 18, 2021 09:27AM EDT

BTIG Sees 260% Upside In Mustang Bio With PT of $11; Early-Stage MB-101 Starts Dosing Brain Tumor Patients

* Mustang Bio Inc (NASDAQ: MBIO) and the City of Hope, an independent cancer research and treatment center, have dosed the first patient in Phase 1 trial evaluating MB-101 in patients with leptomeningeal brain tumors.

* The trial will enroll up to 30 patients and determine the safety and feasibility of administering MB-101 through the ICV Rickham catheter over four weekly cycles in patients with glioblastoma (Arm 1) and ependymoma or medulloblastoma (Arm 2).

* The primary endpoints being evaluated are toxicity, and the survival at three months.

* Secondary endpoints include overall survival, CAR T and endogenous T cell levels, cytokine levels and phenotype detection in peripheral blood, tumor cyst fluid, and cerebrospinal fluid.

* Analyst Update: BTIG initiated coverage on Mustang Bio with Buy Rating, with a Price Target of $11 (upside of around 260%)

* Price Action: MBIO shares are up 5.59% at $3.02 during the premarket session on the last check Tuesday.