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Fly News Breaks for December 27, 2019
SPPI
Dec 27, 2019 | 07:42 EDT
B. Riley FBR analyst Mayank Mamtani lowered his price target for Spectrum Pharmaceuticals to $11 from $18 while keeping a Buy rating on the shares. The company's update on the Phase 2 clinical trial evaluating poziotinib in previously treated non-small cell lung cancer patients with EGFR exon 20 insertion mutations was "underwhelming," Mamtani tells investors in a research note. The analyst adds, however, that the program is "not dead," as suggested in the stock's 60% selloff yesterday.
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