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Fly News Breaks for October 10, 2018
APTO
Oct 10, 2018 | 08:28 EDT
H.C. Wainwright analyst Joseph Pantginis attributes the recent weakness in shares of Aptose Biosciences to the pushout of the CG-806 investigational new drug application from year-end 2018 to early 2019 as well as the planned addition of a healthy volunteer pharmacokinetic study for the AML arm of the planned IND. The analyst believes some investors have wrongly associated this with potential issues regarding the ongoing toxicology studies. He views the pullback as warranted and thinks current share levels of Aptose represent a "compelling opportunity to participate in a ground floor opportunity of two potential transformational drugs." Pantginis reiterates a Buy rating on the shares with an $8.50 price target.
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