JMP Securities raised the firm’s price target on Gritstone to $5 from $4 and keeps an Outperform rating on the shares. Gritstone provided an update from the Phase 2 portion of the ongoing Phase 2/3 trial of its GRANITE personalized vaccine in first-line microsatellite stable colorectal cancer that, while early, show intriguing trends in progression free survival that point to a regulatory path forward if they can be maintained, the analyst tells investors in a research note. The firm increased the probability of approval to 60% for this high-unmet-need and difficult indication from 50%.
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