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Fly News Breaks for October 9, 2018
MNLO
Oct 9, 2018 | 08:38 EDT
Jefferies analyst David Steinberg lowered his price target for Menlo Therapeutics to $7 after the company said it will halt serlopitant development in chronic cough with the Phase 2 study failing to meet its endpoints. This marks the second clinical failure this year, but the rest of the program continues on post the prior Phase 2 success in prurigo nodularis and chronic pruritus, Steinberg tells investors in a research note. The analyst keeps a Hold rating on Menlo Therapeutics.
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