Oppenheimer lowered the firm’s price target on Acrivon Therapeutics to $21 from $25 and keeps an Outperform rating on the shares following the Q4 report. The company will present new preclinical data next week on how its phosphoproteomic platform technology discovered its drug candidates ACR-368 and ACR-2613, but unsurprisingly, investors want more clinical data, and that remains on track for the first half of 2024, the analyst tells investors in a research note. The firm says an upcoming Phase 2 data update should show whether OncoSignature is successfully enriching for clinical responders.
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