RBC Capital analyst Gregory Renza downgraded Avalo Therapeutics to Sector Perform from Outperform with a price target of 75c, down from $9, following the trial failure for the Phase II PEAK clinical study in non-eosinophilic asthma. As management considers strategic options “in the face of currently constrained resources,” RBC is moving to the sidelines until any new clarity on the path forward or any new conviction on the clinical utility of the LIGHT pathway emerges.
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