Fly News Breaks for April 2, 2019
Apr 2, 2019 | 07:38 EDT
After Pfenex disclosed that it received notice that BARDA has decided not to exercise its options to fund further development of anthrax vaccine candidates, Px563L and RPA563, JMP Securities analyst Jason Butler said his talks with management indicate that BARDA's decision was largely due to re-prioritization of its vaccine programs and the need to focus on threats beyond anthrax. He sees no negative read on the company's anthrax vaccines programs from this decision, which also raises no question of read-through to other programs or the platform, in his view. Butler reiterates an Outperform rating and $13 price target on Pfenex shares.
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