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Fly News Breaks for November 8, 2019
MRK, ADRO
Nov 8, 2019 | 14:34 EDT
SVB Leerink analyst Daina Graybosch noted that Merck (MRK) presented data in a late-breaking oral session at the SITC meeting on the dose escalation and confirmation phases of its trial of MK-5890, which is licensed from Aduro Biotech (ADRO). The "surprisingly positive" signal in dose escalation, while very early, should not have much stock impact for Merck, but for Aduro "this is some much needed positive news," according to Graybosch. She has an Outperform rating on Aduro shares.
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