TD Cowen analyst Yaron Werber downgraded Passage Bio (PASG) to Hold from Buy with no price target after the company released updated Phase 1/2 frontotemporal dementia with granulin mutations data in line with prior updates, but also confirmed the FDA will require a randomized, placebo-controlled registrational study for PBFT02. Given that this removes a potentially expedited path to market in FTD-GRN, the firm sees the future of PBFT02 as “uncertain,” the analyst tells investors.
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Read More on PASG:
- Passage Bio price target lowered to $15 from $30 at Oppenheimer
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