Citi downgraded Galera Therapeutics to Neutral from Buy with a price target of 40c, down from $12. The avasopasem Complete Response Letter from the FDA puts Galera in an “unfortunately difficult position given a very limited cash runway” into Q2 of 2024, the analyst tells investors in a research note. The firm says avasopasem’s path forward is very unclear.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on GRTX:
- Galera Therapeutics reports Q2 EPS (48c), consensus (44c)
- Galera Reports Second Quarter 2023 Financial Results and Recent Corporate Updates
- GRTX Earnings this Week: How Will it Perform?
- Biotech Alert: Searches spiking for these stocks today
- Galera Therapeutics downgraded to Underperform at BofA, coverage terminated