RBC Capital analyst Luca Issi lowered the firm’s price target on Graphite Bio to $4 from $11 and keeps a Sector Perform rating on the shares after the company announced that it will voluntarily pause Phase 1/2 CEDAR study of nulabeglogene autogedtemcel for sickle cell disease due to a serious adverse event in the first patient dosed with nula-cel. Initial proof of concept for the program is no longer mid-2023 and the IND for BT is also delayed, the analyst tells investors in a research note, adding that he is maintaining his cautious stance on the stock and believes that this news sets Graphite Bio further behind.
Published first on TheFly
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