H.C. Wainwright says Merck’s (MRK) LITESPARK-012 trial miss in clear cell renal cell carcinoma is not a read to Arcus Biosciences’ (RCUS) casdatifan. Arcus is planning to evaluate a different regimen for casdatifan in front-line clear cell renal cell carcinoma, the analyst tells investors in a research note. H.C. Wainwright believes Merck’s study miss could be a positive outcome for casdatifan, saying the drug may now be the only HIF2alpha inhibitor to be marketed in the indication should be Phase 3 data be positive. The firm keeps a Buy rating on Arcus with a $32 price target. The stock in morning trading is up 1% to $23.08.
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