JonesResearch downgraded OnKure Therapeutics (OKUR) to Hold from Buy after the company recently announced the discontinuation of their OKI-219, being developed for metastatic/advanced breast cancer, and the advancement of OKI-345 and OKI-355 for mBC and vascular malformations. While the firm believes that management’s decision to pivot to a new pan-mutant molecule was “the right move,” it will be sitting on the sidelines and tracking the preclinical development of ‘345 and ‘355 given the roughly two year wait for “any meaningful clinical data,” the analyst tells investors.
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