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Fly News Breaks for November 11, 2019
ALKS
Nov 11, 2019 | 08:58 EDT
Morgan Stanley analyst David Risinger noted that Alkermes presented new data from the company's ARTISTRY clinical development program related to ALKS 4230 at the Society for Immunotherapy of Cancer annual meeting. While he noted "encouraging signals" such as a patient with pancreatic cancer with stable disease on monotherapy for six months as well as two partial responses from patients on combination therapy, there were also "disappointing signals" such as the fact that no patients had partial response or complete response in the monotherapy dose escalation stage, Risinger said. Overall, he thinks that data presented at SITC were "too preliminary to assess" the potential of 4230 and he looks forward to future updates, said Risinger, who keeps an Equal Weight rating on Alkermes shares with a $20 price target.
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