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Fly News Breaks for September 20, 2018
CELG, OMED
Sep 20, 2018 | 11:21 EDT
H.C. Wainwright analyst Edward White lowered his price target on OncoMed (OMED) shares to $2 from $3 after partner Celgene (CELG) passed on its option to license navicixizumab. Worldwide development, commercialization and rights to navicixizumab now remain under OncoMed's control while Celgene retains options to license OncoMed's anti-TIGIT monoclonal antibody, etigilimab, and anti-RSPO3, rosmantuzumab, noted White. The analyst, who notes there is potential the company could partner the asset, keeps a Neutral rating on OncoMed shares.
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