Cavendish has taken an upbeat view of Poolbeg Pharma PLC's (AIM:POLB, OTC:POLBF) prospects after the company’s anti-inflammatory candidate POLB 001 was selected as a central element of a major UK research programme into cytokine release syndrome.
CRS is a dangerous immune reaction that can occur during advanced cancer treatments such as bispecific antibodies and CAR-T therapies.
According to the broker, the RISE initiative, led by the University of Manchester and The Christie and backed by Medical Research Council funding, will generate deeper clinical and translational data that could support POLB 001’s future development.
Poolbeg is acting as the lead industry partner, with Johnson & Johnson providing teclistamab, the bispecific antibody used in the forthcoming TOPICAL trial.
In a note, Cavendish emphasises that involvement in RISE does not affect Poolbeg’s cash runway into 2027 or delay expected interim data from the trial, which remains on track for summer 2026.
The broker argues that positive data could become a catalyst for the shares and strengthen Poolbeg’s hand in licensing discussions.
It highlights the structure of the TOPICAL study, which will test POLB 001 in multiple myeloma patients receiving immunotherapy, with the main aim of reducing clinically significant CRS.
It also notes that the programme adds to a pipeline of catalysts over the next 6–18 months, with clinical readouts expected in 2026.
A market opportunity of more than US$10 billion for CRS-related treatments underscores the commercial potential, Cavendish says.
It reiterates its 'buy' rating and 19p target price, arguing that POLB 001 could become strategically important as the need for safer cancer immunotherapy continues to grow.
The shares were trading 3% higher in morning trading at 3.75p.