george clerk
After plunging practically 60% the day before today, Agenus (NASDAQ:Agen) down about 5% Baird downgraded the biotech earlier than the bell on Friday, citing a sell-off prompted by FDA suggestions on its colorectal most cancers therapy mixture BOT/BAL.
and FDA, Aginus (AgenLexington, Mass.) mentioned Thursday that the company recommends in opposition to in search of accelerated approval of immunotherapy mixtures based mostly on: Part 2 interim knowledge.
“We imagine the FDA’s advice in opposition to an accelerated approval path is detrimental to time to market and price,” Baird analyst Colleen Kusy wrote, in accordance with Bloomberg. She downgraded the inventory and added The worth goal was lowered to $8 from $35 per share.
Kusy mentioned she is on the fence as a result of the bullish argument based mostly on the belief that section 2 knowledge can be ample for sooner approval of BOT/BAL has but to materialize. “We imagine the funding required for section three is unclear,” she added.
