In a recently released analyst research note, Paradigm Capital Inc. biotechnology and healthcare analyst, Rahul Sarugaser, PhD, reiterated his Buy rating on shares of Tetra Bio-Pharma Inc. (TSXV:TBP) (OTC:TBPMF) with a twelve-month price target that suggests some big upside to come.
This analyst update comes just after Tetra Bio-Pharma announced a collaboration agreement with Ovensa Inc. to evaluate TRIOZAN™, a proprietary nanomedicine platform for targeted delivery of cannabinoids to brain tumor cells.
According to Cantech Letter, “The partnership will be good for TBP, says Sarugaser, who points out Ovensa’s positive attributes, such as its proprietary Triozan nano-medicine platform and its ongoing collaboration with Japanese pharma company Takeda Pharmaceuticals.”
In his analyst note, Sarugaser wrote:
“This new venture represents a brand new area of clinical focus for TBP: treating cancer, as opposed to the treatment of cancer’s symptoms as in TBP’s pain studies. The preclinical and clinical evidence supporting the treatment of brain cancer using different cannabinoids is early but, indeed, compelling.”
Rahul Sarugaser’s price target of $1.75 CAD per share implies a potential upside of approximately 150.00% based on the last traded price of $0.70 CAD per share on the TSXV.
Sarugaser added:
“While many cannabis companies simply announce their intentions to pursue clinical trials, this pursuit has been the foundation of TBP’s operations from day one. TBP’s industry-leading research and deep knowledge of global regulatory structures are key drivers putting it at the vanguard of the cannabis biopharmaceutical arena.”
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