Cowen analyst Phil Nadeau downgraded Graphite Bio to Market Perform from Outperform without a price target. The company decided to discontinue internal development of nula-cel for sickle cell disease, initiate a process for strategic alternatives, and reduce its workforce, the analyst tells investors in a research note. The firm cites an "uncertain strategy" and no clinical candidates for the downgrade of Graphite Bio.
Published first on TheFly
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