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Fly News Breaks for April 17, 2017
OMED
Apr 17, 2017 | 11:00 EDT
Piper Jaffray analyst Edward Tenthoff downgraded OncoMed Pharmaceuticals to Neutral from Overweight after the company's Phase II tarextumab study in first-line small cell lung cancer failed. The analyst cut his price target for the shares to $5 from $17. The trial failure follows last week's negative Phase II data on demcizumab in first-line pancreatic cancer last week, Tenthoff tells investors in a research note. OncoMed in morning trading is down 20% to $3.86.
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