Piper Jaffray analyst Edward Tenthoff lowered his price target for Aveo Pharmaceuticals to $3 from $5 given that the company now intends to report TIVO-3 overall survival data prior to filing the NDA for tivozanib, which could slip from 1H19 into Q4 of 2019 or early 2020. The analyst notes that the FDA stated preliminary OS data from the Phase III TIVO-3 trial in 3-line renal cell carcinoma did not remove concerns related to OS outlined in the 2013 Complete Response Letter. In addition, Aveo Pharmaceuticals updated that the OS hazard ratio worsened to 1.12 from 1.06 following inclusion of additional patients previously lost to follow up, he notes, adding that while worse, this HR is based on more patients, but still as of the October 4th cutoff. Tenthoff reiterates an Overweight rating on the shares.