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Fly News Breaks for December 26, 2019
Dec 26, 2019 | 12:07 EDT
H.C. Wainwright analyst Edward White maintained a Buy rating on Spectrum (SPPI) and lowered his price target on shares to $11 from $41 following "surprisingly negative" results for poziotinib from Cohort 1 of the ZENITH20 trial. Following these results, White is not sure if the program can be salvaged, as as such, removed poziotinib from his model, causing the price target reduction. The analyst noted that Spectrum also announced the FDA accepted its Biologics License Application, or BLA, for Rolontis, with a PDUFA date set for October 24, 2020. He added that "all focus" was now on Rolontis.
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