Cantor Fitzgerald downgraded Prothena (PRTA) to Neutral from Overweight without a price target Prothena announced that birtamimab’s Phase 3 AFFIRM trial in AL amyloidosis failed to meet its primary survival endpoint or either of two secondary endpoints, the analyst tells investors in a research note. Cantor says the news is “not surprising,” as it viewed AFFIRM as a high-risk study, and “applauds” the decision by the company to review all business operations.
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