Leerink analyst Lili Nsongo lowered the firm’s price target on Arcturus Therapeutics (ARCT) to $54 from $63 and keeps an Outperform rating on the shares. The firm updated its COVID and Flu vaccine integrated market model to reflect lower US vaccination trends for both COVID and flu, the likely necessity for standalone mRNA flu vaccine approvals before approval of potential COVID/Flu mRNA combo vaccines, and regulatory uncertainties surrounding the development and approval path for COVID/Flu combination vaccines in light of the current FDA leadership position on mRNA vaccines positions, the analyst tells investors in a research note. The development strategy of both a combination COVID/Flu vaccine and a standalone flu vaccine remains unclear, and Leerink expects regulatory events, clinical data, and commercial contracting dynamics to drive strategic decisions by individual manufacturers.
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