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Fly News Breaks for December 17, 2019
KALA
Dec 17, 2019 | 06:11 EDT
BofA/Merrill analyst Tazeen Ahmad downgraded Kala Pharmaceuticals to Neutral from Buy with a price target of $6, down from $9. The analyst lowered Kala's revenue estimates to account for the "slow ramp" of Inveltys for inflammation following eye surgery, the delayed readout of a Eysuvis pivotal study in dry eye disease and physician views that the market will be more crowded in coming years.
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