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Fly News Breaks for November 26, 2019
GBT
Nov 26, 2019 | 07:51 EDT
SunTrust analyst Joon Lee raised his price target on Global Blood Therapeutics to $110 and kept his Buy rating, adjusting his model after yesterday's FDA decision to approve Oxbryta, formerly voxeltor, for SCD on an accelerated basis and "significantly" ahead of the Feb 26th PDUFA. The analyst notes that the label is "rather broad and consistent" with the trial demographics and efficacy/safety results that the company disclosed previously. Lee adds that the early approval "speaks to the significance" of the drug's value proposition in SCD.
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