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Fly News Breaks for August 16, 2019
RETA
Aug 16, 2019 | 07:02 EDT
With the August macro selloff, shares of Reata Pharmaceuticals are down 20% "absent fundamental changes" to the thesis, Citi analyst Yigal Nochomovitz tells investors in a research note. With two large Phase 3 catalysts coming by the end of 2019, the selloff provides a "clear opportunity" to buy the shares, says the analyst. He currently models an ~85% chance of the Alport Phase 3 working. Nochomovitz reiterates Reata as a "high conviction" top pick.
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