Fly News Breaks for November 9, 2015
MRK, NLNK
Nov 9, 2015 | 09:03 EDT
After NewLink's (NLNK) stock tumbled 24% on Friday, Cantor blames the decline on data from competitors. Specifically, the firm says that investors were worried about the implications from reduced response times shown by Incyte's (INCY) IDO combination trial with Merck's (MRK) Keytruda versus a previous abstract. However, Cantor says that preclinical data presented on November 6 indicates that NewLink's drug, when used in conjunction with Roche's atezolizumab, reduced kyneurin levels more than atezolizumab, alone. The firm thinks that NewLink's drug could meaningfully improve results. It keeps a $62 price target and Buy rating on NewLink.
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