H.C. Wainwright lowered the firm’s price target on Lava Therapeutics (LVTX) to $2 from $6 and keeps a Buy rating on the shares after management decided to discontinue LAVA-1207 program, given that it did not meet the company’s internal efficacy threshold in the Phase 1 study. While “disappointed” by management’s decision to discontinue LAVA-1207, the firm remains confident in the therapeutic potential of the Gammabody platform.
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