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Fly News Breaks for December 6, 2018
OMED
Dec 6, 2018 | 08:35 EDT
As previously reported, Wells Fargo analyst Jim Birchenough downgraded OncoMed to Market Perform from Outperform following the proposed merger with Mereo BioPharma Group. The analyst also lowered his price target on the shares to $1.50 from $8 to reflect the implied value of OncoMed as the minority stakeholder in the deal and a modest probability adjusted value for the anti-TIGIT contingent value right.
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