Mainz Biomed cut to Hold at Maxim on shift in capital structure

As previously reported, Maxim downgraded Mainz Biomed (MYNZ) to Hold from Buy. The firm is citing the company’s plans to terminate development of its colorectal cancer platform and focus on its pancreatic cancer diagnostic, which recently reported sensitivity of 100% at a 95% specificity in its recent feasibility study, the analyst tells investors in a research note. Maxim further notes the significant dilution from a change in Mainz capital structure and timeline uncertainty associated with a shift in business strategy.