As previously reported, BofA analyst Alec Stranahan double downgraded Day One Biopharmaceuticals to Underperform from Buy with a price target of $9, down from $34, citing near-term regulatory risks as key opinion leader checks and the firm’s analysis of prior FDA briefing documents signal a "growing resistance" to single-arm studies. Day One’s tovorafenib will have full pivotal data in r/r pLGG at an upcoming conference, followed by an NDA submission in Q2, and the firm thinks "there is risk that both of these events will be negative catalysts," the analyst tells investors.
Published first on TheFly
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