Guggenheim lowered the firm’s price target on Scynexis (SCYX) to $3 from $4 and keeps a Buy rating on the shares. The firm, which is updating its company model following the recent announcement that the company resolved their differences with GSK (GSK) on the restart of the MARIO trial for ibrexafungerp in invasive candidiasis, notes that its price target cut is mainly due to the loss of some of the potential milestone payments for ibrexafungerp.
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