Forty Seven: Buy The Dip In This CD47 Pioneer Ahead Of ASCO GI

About: Forty Seven, Inc. (FTSV)
by: Jonathan Faison
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Jonathan Faison
Long only, biotech, event-driven

Shares have risen by 525% over the past three months, but the current dip to $35 (price point of December's secondary offering) is an attractive level to initiate a position.

Strengths of Forty Seven include a top tier management team, stellar science and lead antibody magrolimab's front runner position in the lucrative CD47 space.

Results presented at ASH in AML and MDS were quite promising, and after discussions with the FDA the company is pursuing two accelerated approval opportunities.

Preclinical results provide solid rationale for combining anti-CD47 agents with other approved drugs (checkpoint inhibitors, EGFR inhibitors, etc.). Solid tumor data at ASCO-GI in February could be a significant catalyst.

Forty Seven is a Buy. I suggest readers accumulate dips in the near term ahead of ASCO GI and mid-year conferences (updated results in AML and MDS).

Shares of CD47 front-runner Forty Seven (FTSV) have risen by 120% over the past year and by 525% over the past three months. Currently, this growing biotech firm sports a market capitalization of