H.C. Wainwright analyst Andres Maldonado lowered the firm’s price target on Mural Oncology (MURA) to $6 from $18 and keeps a Buy rating on the shares after the interim analysis of the Phase 3 ATRISTRY-7 study failed to show a statistically significant overall survival benefit over investigator’s choice chemotherapy in platinum-resistant ovarian cancer. The firm says the key investor focus for nemvaleukin now shifts to the extent of read-through to the upcoming data in both mucosal and cutaneous melanoma. H.C. Wainwright is “hesitant to completely rule out a pathway forward” for nemvaleukin.
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