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Fly News Breaks for November 24, 2015
ADXS, ADRO
Nov 24, 2015 | 11:06 EDT
Roth Capital analyst Joseph Pantginis attributes the selloff in Aduro Biotech (ADRO) to the company's disclosure of listeriosis being found in a patient in the CRS-207 pancreatic cancer program, noting there is heightened investor sensitivity given the recent clinical hold placed on Advaxis' (ADXS) triggered by end-stage cervical cancer patients showing listeria infection at end-of-life. However, the event in Aduro's program was due to a protocol violation and both the patient and the doctor requested, and were approved, to continue with therapy, Pantginis points out. The analyst views today's action as an overreaction and reiterates a Buy rating and $68 price target on Aduro shares.
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