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Fly News Breaks for June 9, 2016
INSM
Jun 9, 2016 | 07:39 EDT
Leerink analyst Joseph Schwartz says Insmed decided to withdraw its Marketing Authorization Application from the European Medicines Agency for its Arikayce in treating patients with nontuberculous mycobacterium infections. The analyst sees this setback as minor as Phase 3 CONVERT study continues to enroll patients allowing the company to return with "better, more convincing" clinical data at a later date. Schwartz reiterates an Outperform rating on the stock but lowered his price target on the shares to $21 from $23.
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