ContraFect Corp. (NASDAQ: CFRX) was featured in a recent equity research report published by Mizuho Securities USA LLC. The report reads, “ContraFect has provided a positive update, announcing they have received another grant from the global non-profit partnership CARB-X to help progress their second pipeline candidate, CF-370, through IND-enabling activities and towards future Phase 1 studies. The initial funding is $4.9M and could go up to $18.9M if certain milestones are met. We think the news should be viewed positively, as it shows the external support they are receiving for their programs and starts to diversify the company away from being a single-product story. With that said, the key driver of the stock remains exebacase, with potential funding from BARDA expected in the Fall and interim data from the Phase 3 DISRUPT study expected in 1H21.”
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About ContraFect Corp.
ContraFect is a biotechnology company focused on the discovery and development of direct lytic agents (“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 Pseudomonas aeruginosa (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 methicillin-resistant Staph aureus (“MRSA”) and P. aeruginosa, which can cause serious infections such as bacteremia, pneumonia and osteomyelitis. The company 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 (bacteremia), including right-sided endocarditis, when used in addition to standard-of-care anti-staphylococcal antibiotics in adult patients. For more information, visit the company’s website at www.Contrafect.com.
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