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Fly News Breaks for July 18, 2019
MGNX
Jul 18, 2019 | 07:16 EDT
H.C. Wainwright analyst Debjit Chattopadhyay sees nothing "inherently sinister" with flotetuzumab after MacroGenics regained the full rights to the drug. After speaking with management, the analyst says that ex-partner Servier was not been particularly engaged during the development process and that to date, MacroGenics has been funding both the U.S. and European studies. Further, flotetuzumab's emerging clinical profile remains consistent with what was presented at ASH 2018, and an updated presentation on the fully enrolled dose expansion cohort is expected at ASH 2019, Chattopadhyay tells investors in a research note. He keeps a Buy rating on MacroGenics shares with a $39 price target.
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