Oppenheimer analyst Matthew Biegler initiated coverage of Day One Biopharmaceuticals with a Perform rating and no price target. While stating "there’s a lot to like about this story," including management and data to date, but "lost in the hype, in our view, lie real risks," the analyst tells investors in a research note. The two big "ifs" Oppenheimer highlights are whether or not tovorafenib will get accelerated approval based on its efficacy and safety profile and also the true market opportunity for the drug, which the firm calls "harder to estimate."
Published first on TheFly
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