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Fly News Breaks for June 16, 2015
AAVL
Jun 16, 2015 | 05:46 EDT
William Blair downgraded Avalanche Biotechnologies to Market Perform after the company reported Phase 2a results for AVA-101 in wet age-related macular degeneration. The firm says the performance by Lucentis and a difficult population cloud the results. It notes the Phase 3 results are a "ways away." It has a $24 price target for the stock. Shares of Avalanche are off 42% to $22.51 in pre-market trading.
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