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Fly News Breaks for May 10, 2016
NLNK
May 10, 2016 | 07:44 EDT
Cantor Fitzgerald analyst Mara Goldstein noted that NewLink Genetics' IMPRESS trial failed to meet its OS endpoint and said the results suggest little chance of a salvageable outcome, but thinks that the company's IDO platform can be "an important valuation backstop" for the shares and is well discounted after the post-failure pullback. Goldstein cut her price target on NewLink to $20 from $62, but maintains a Buy rating on the stock, citing the potential for the IDO platform as well as the company's Ebola vaccine.
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