B. Riley analyst Mayank Mamtani initiated coverage of Gritstone Bio with a Buy rating and $8 price target. Amid the "innovation wave" in mRNA-based personalized cancer vaccines, Gritstone stands out with its "proprietary, two-pronged approach," the analyst tells investors in a research note. The firm says the company is generating "robust" randomized, controlled datasets that improve the likelihood of FDA approval and may open up a multi-billion-dollar opportunity for its mRNA platform that goes well beyond respiratory vaccines.
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Published first on TheFly
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