Global Blood Therapeutics, Voxelotor in Advanced Clinicals, Analysts Review and Targets

Global Blood Therapeutics, Voxelotor in Advanced Clinicals, Analysts Review and Targets

Global Blood Therapeutics, Inc. (NASDAQ: GBT) is a clinical-stage biopharmaceutical company determined to discover, develop and deliver innovative treatments that provide hope to underserved patient communities. GBT is developing two therapies for the potential treatment of sickle cell disease, including its late-stage product candidate, voxelotor, as an oral, once-daily therapy.

GBT pipeline: GBT is advancing a strategic drug discovery, development, and commercialization approach that leverages the team’s expertise in blood biology and structural and medicinal chemistry.

 Voxeletor program overview

On Nov. 06, 2018, the Company reported business progress and financial results for the third quarter ended September 30, 2018.


Recent Business Progress:

  • Global Blood announced an agreement to sell $150.0 million in shares of its common stock in a registered underwritten public offering.  In addition, GBT has granted the underwriter a 30-day option to purchase up to $22.5 million in shares of its common stock. The offering is expected to close on or about December 11, 2018, subject to customary closing conditions.
  • The company announced positive 24-week Results from Phase 3 HOPE Study Demonstrating Clinically and Statistically Significant Improvements in Hemoglobin and Clinical Measures of Hemolysis and a Favorable Safety Profile. Interim Analysis of Data from 1500 mg Cohort of HOPE-KIDS 1 Study Consistent with Phase 3 HOPE- Results in Demonstrating Improvement in Hemoglobin and Clinical Measures of Hemolysis and Favorable Safety in Pediatric Patients
  • The Company announced that U.S. FDA Agrees with its Proposal Relating to Accelerated Approval Pathway for Voxelotor for the Treatment of Sickle Cell Disease and GBT Plans to Submit New Drug Application (NDA).
  • GBT plans to request a pre-NDA meeting for the first quarter of 2019 and intends to provide further details regarding its plans and timing for an NDA submission as well as additional specifics on the TCD confirmatory study following this meeting.
  • Received acceptance of three oral presentations and one poster presentation at the upcoming 60th American Society of Hematology (ASH) Annual Meeting and Exposition, which will be held December 1-4in San Diego.
  • Presented three oral presentations during the 46th Annual National Sickle Cell Disease Association of America (SCDAA) Convention in Baltimore.
  • Hosted two SCD-focused conferences: the inaugural Access to Care Summit, designed to bring together members of the SCD community to discuss solutions to improve access to SCD care, and the 7th Annual SCD Therapeutics Conference, which highlighted the latest medical advances and future trends in the treatment of patients with SCD.
  • Participated in the FDA-ASH SCD Clinical Endpoints Workshop in Rockville, Maryland. GBT’s Senior Vice President of Development Josh Lehrer, M.D., participated in the workshop’s industry panel.


Major Value Drivers in 2018:

Potential value drivers for Global Blood Therapeutics, Inc.

Analyst ratings and target price:

GBT recently updated extraordinarily encouraging and positive trial results and therefore attracting considerable analyst attention. Per, their average twelve-month price target is $86.3571, suggesting that the stock has a possible upside of 102.45%. The high price target for GBT is $150.00, and the low-price target for GBT is $61.00. There are currently one hold rating and 13 buy ratings for the stock, resulting in a consensus rating of “Buy.”


Below are the excerpts of recent analyst rating/Price targets on the company:

Analyst price targets for (NASDAQ: GBT) Global Blood Therapeutics, Inc.



About SCD: Sickle cell disease (SCD) is a chronic, inherited blood disorder that impacts hemoglobin, a protein found in red blood cells (RBCs) that carries oxygen throughout the body. The disease is caused by a genetic mutation in the beta-chain of hemoglobin, which results in the formation of abnormal hemoglobin known as sickle hemoglobin (HbS).

Financial Highlights: (In thousands, except share and per share amounts)

  • Cash, cash equivalents and marketable securities totaled $482.1 million at September 30, 2018, compared with $329.4 million at December 31, 2017.
  • Net loss for the three months ended September 30, 2018, was $43.1 million compared with $28.6 million for the same period in 2017. Basic and diluted net loss per share for the three months ended September 30, 2018, was $0.83 compared with $0.66 for the same period in 2017.
  • Based on the Company’s operating plan, Operating expenses are expected to increase in Q4 2018 primarily due to manufacturing and pre-commercial activities.


Key risk factors and potential stock drivers:

  • GBT recently confirmed that the FDA is willing to support a voxelotor accelerated approval filing. Voxelotor’s ability to improve TCD flow, post-approval, would be one of the major near to medium term catalyst for the company.
  • GBT plans to request a pre-NDA meeting for the first quarter of 2019 and intends to provide further details regarding its plans and timing for an NDA submission as well as additional specifics on the TCD confirmatory study following this meeting.
  • Company’ ability to maintain liquidity and financial flexibility to fund its incremental capital requirements will remain a critical challenge for the company.
  • Pharmaceutical and biotech industries are subject to extensive regulation by government agencies, including the FDA, the Drug Enforcement Administration (“DEA”), the FTC and other federal, state and local agencies.


Stock Performance

GBT stock chart


  • On Friday, Dec 7th, 2018, GBT closed at $42.65, with an average volume of 1.2 million shares exchanging hands. Market capitalization is $2.228 billion. The current RSI is 58.83
  • In the past 52 weeks, shares of GBT have traded as low as $30.15 and as high as $68.05
  • At $42.65, shares of GBT are trading above its 50-day moving average (MA) at $36.59 and below its 200-day moving average (MA) at $44.19
  • The present support and resistance levels for the stock are at $39.83 & $46.01 respectively.

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