Citi believes today’s weakness in Arcellx (ACLX) is “an overreaction to the highly preliminary” Phase 1 inMMyCAR data for Kelonia Therapeutics’ KLN-1010. While the achievement of MRD-negativity is a positive early signal, the study featured just three patients and a maximum of three months’ follow-up, “leaving critical questions about response durability entirely unanswered,” according to the firm, which would be buyers on the weakness. Citi maintains a Buy rating and $110 price target on Arcellx shares.
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