BofA analyst Tazeen Ahmad downgraded Fulcrum Therapeutics to Underperform from Neutral with a price target of $5, down from $8, after the FDA placed a full clinical hold on FTX-6058 for the treatment of sickle cell disease, or SCD. While awaiting additional color from the company, the firm considers it "prudent to take a more conservative stance" given the program is on full clinical. BofA lowered its odds of success for FTX-6058 to 10% from 20% and pushed out its launch assumption to 2026 from 2025.
Published first on TheFly
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