In a report released today, Andrew Berens from Leerink Partners downgraded Boundless Bio Inc. (BOLD – Research Report) to a Hold, with a price target of $3.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Andrew Berens has given his Hold rating due to a combination of factors affecting Boundless Bio Inc.’s current strategic direction. The company has decided to discontinue its current monotherapy and combination arms of the BBI-355 (CHK1) program due to a narrow therapeutic index and observed hematologic toxicity at doses necessary for clinical activity. This decision marks a significant setback as it necessitates a return to proof-of-principle and dose-optimization efforts, which could delay progress.
Furthermore, the anticipated validation of the ecDNA hypothesis using the ECHO diagnostic tool has been postponed, leaving the investment thesis uncertain until new developments, such as the BBI-940 asset, are realized. The shift in strategy, along with the delays in key program validations, has led to a reassessment of the company’s potential, resulting in a Hold rating as the company navigates these challenges.