Piper Sandler analyst Edward Tenthoff downgraded Rapt Therapeutics (RAPT) to Neutral from Overweight with a price target of $2, down from $8, after the company announced it is terminating development of zelnecirnon following recent FDA feedback on resolution of the outstanding clinical hold due to one patient with severe liver injury in the AD study. Rapt continues to develop next generation preclinical CCR4 inhibitors and is continuing to seek a partner for tivumecirnon for NSCLC, the firm noted.
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Read More on RAPT:
- JPMorgan cuts Rapt Therapeutics to Underweight after zelnecirnon discontinued
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- Rapt Therapeutics terminates zelnecirnon program following clinical hold
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