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Fly News Breaks for December 28, 2015
CMRX
Dec 28, 2015 | 16:49 EDT
Citi analyst Yigal Nochomovitz lowered his price target on Chimerix to $19 from $80 after the company's trial of brincidofovir failed to achieve its primary endpoint, leaving no "viable path forward" for brincidofovir in bone marrow transplant patients, and hence removing ~$800M peak in revenue from the firm's model. Citi maintained its Buy/High Risk rating on Chimerix.
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