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Fly News Breaks for May 22, 2019
TOCA
May 22, 2019 | 09:18 EDT
SVB Leerink analyst Daina Graybosch lowered her price target for Tocagen to $5 from $11 saying the Independent Data Monitoring Committee's recommendation to continue TOCA 5 trial aligns with her base case. A study failure announcement by year end is now likely, Graybosch tells investors in a research note. She believes the IDMC's recommendation to continue the study "has definitive negative read-through to a final outcome." The analyst keeps a Market Perform rating on Tocagen shares. The stock in premarket trading is down 27% to $6.45.
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