Kite: A High-Flier in Oncology
Monster winners often have one trait in common: triple-digit revenue growth. Kite Pharmaceuticals (KITE) could soon reach this milestone, notes growth stock expert Mike Cintolo, editor of Cabot Top Ten Trader.
Revenue was up 92% in Q1, and should be up 90% this year, then soar over 350% next year! In addition, the stock ticks a few other boxes in the potential big winner column, too.
It is progressing from a clinical-stage biotech stock to a commercial-stage company with life-saving treatments in the emerging field of cancer immuno-therapy.
But data show Kite’s most advanced candidate, axi-cel/ KTE-C19, is a potential game-changing treatment for a range of blood cancers.
It is a CAR-T cell therapy, meaning Kite takes a patient’s own white blood cells and genetically engineers them to recognize and destroy the cancer.
Kite submitted a marketing application to the FDA earlier this year, plans to submit one to the EU in Q3, and expects to hear from the FDA in November. The company is prepping for a commercial rollout in the U.S. now, with a global rollout to follow.
Suffice it to say, investors have a lot riding on the FDA’s PDUFA date on November 29. And based on recent price target increases, analysts see the probability of success going up.