H.C. Wainwright analyst Vernon Bernardino lowered the firm’s price target on Can-Fite BioPharma to $18 from $34 and keeps a Buy rating on the shares. The analyst believes Can-Fite’s advancement of piclidenoson and namodenoson into late clinical-stage development is underappreciated, but says the firm’s timeline for piclidenoson’s regulatory approval was too aggressive. As a result, the firm moved its projected approval of piclidenoson in psoriasis to 2028 from 2027.
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