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Fly News Breaks for November 25, 2019
RAPT
Nov 25, 2019 | 05:05 EDT
BMO Capital analyst Do Kim initiated coverage of Rapt Therapeutics with an Outperform rating and $35 price target. The analyst believes Rapt's CCR4 antagonist programs have a "sound" biological basis for addressing clinically validated disease pathways in immuno-oncology and allergy. A Phase 1b partial responder for lead drug FLX475 provides early proof-of-concept, suggesting broad benefit in charged tumors, Kim tells investors in a research note. Further, the analyst thinks RPT193 could have biologic-like efficacy in atopic dermatitis.
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