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Fly News Breaks for May 17, 2018
DVAX
May 17, 2018 | 06:46 EDT
JPMorgan analyst Anupam Rama believes shares of Dynavax should trade up 5%-15% to the $21-$22 range on the SD-101 melanoma ASCO abstract. While some on the Street were inappropriately setting the benchmark at 70%-80% overall response, the abstract data "very much put the early efficacy signals" of SD-101 plus pembrolizumab in the ballpark of nivolumab plus ipilimumab from CHECKMATE-067, with a cleaner safety profile, Rama tells investors in a research note. He says the abstract met his "base case / win / upside scenario."
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