Replimune upgraded to Neutral at JPMorgan after BLA resubmission accepted

As previously reported, JPMorgan upgraded Replimune (REPL) to Neutral from Underweight with an $11 price target after the company announced the FDA has accepted the resubmission of the BLA for RP1 plus nivolumab for the treatment of advanced melanoma progressing on PD-1 based therapy. While the regulatory process has been volatile for the product, the firm view remains that the unmet need is clear and that the totality of the RP1 data in the refractory melanoma setting is “compelling and warrants approval,” the analyst tells investors.