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Fly News Breaks for May 6, 2019
CYTK
May 6, 2019 | 11:22 EDT
While Cytokinetics' Phase III data for reldesemtiv missed the primary endpoint of slow vital capacity at 12 weeks, the drug did show benefits over placebo in amyotrophic lateral sclerosis, Piper Jaffray analyst Edward Tenthoff tells investors in a research note. He points out the company intends to advance reldesemtiv into a Phase III ALS trial. The analyst reiterates an Overweight rating on Cytokinetics and boosted his price target for the shares to $14 from $13.