** Brokerage H.C. Wainwright initiates coverage on biopharma firm Actuate Therapeutics ACTU.O with "buy" rating
** Brokerage sets PT at $20, representing more than 100% upside to the stock's last close
** In a mid-stage study, co's experimental therapy for a type of pancreatic cancer improved overall survival over chemotherapy alone, with a 37% reduction in the risk of death
** Brokerage says the trial data for the therapy, elraglusib, "positions it as a frontrunner among competition" for pancreatic cancer treatments
** Brokerage is optimistic about ACTU because the pancreatic cancer market has a significant unmet need
** Brokerage expects elraglusib to launch in 2029 and believes ACTU has a revenue potential of nearly $600 mln by 2033
** ACTU has fallen 8.9% YTD
(Reporting by Siddhi Mahatole)
((siddhi.mahatole@thomsonreuters.com))
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