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Fly News Breaks for February 11, 2020
Feb 11, 2020 | 06:35 EDT
UBS analyst Jacob Navin raised his price target on Rapt Therapeutics to $44 and kept his Buy rating, noting the "continued positive data" of its FLX475 and increased valuations of its comparable peers. The analyst further cites the positive updates on FLX475 regarding the continued partial response of a single patient in the NSCLC cohort who had previously failed Tecentriq with 14-week data released in October showing 47% reduction in tumor volume. Navin adds that Rapt's Hanmi deal offered some "independent validation" and further confidence for FLX-475 potential, as he raises his probability of success assumption in NSCLC to 15% from 12.5%.
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