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Fly News Breaks for November 4, 2019
AVEO
Nov 4, 2019 | 14:47 EDT
Piper Jaffray analyst Edward Tenthoff backed an Overweight rating on Aveo but lowered its price target on the shares to $2 from $4 after the FDA recommended that the company wait for final TIVO-3 Overall Survival data next June. Tenthoff, who noted that Aveo intends to file an NDA for tivozanib in third and fourth line renal cell carcinoma, said that if the overall survival hazard ratio returns above 1.0, he does not believe the FDA would accept a tivo NDA resubmission. The analyst added that he is pushing out the U.S. third-line+ RCC launch to 2022 and removing first-line RCC sales.
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