Maxim analyst Jason McCarthy lowered the firm’s price target on Actinium Pharmaceuticals to $5 from $30 and keeps a Buy rating on the shares. Actinium announced that the FDA determined that the Phase 3 SIERRA trial was not sufficient to support a BLA filing, the analyst tells investors in a research note. The firm is surprised by the outcome, especially given that there seemed to be alignment on the SIERRA protocol and changes along the way, particularly the lowering of time for the control arm to crossover to Iomab. Maxim views the selloff as overdone, and sees multiple paths forward for the company.
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