Piper Sandler raised the firm’s price target on Gritstone to $7 from $6 and keeps an Overweight rating on the shares. The firm notes Gritstone was awarded a $433M BARDA contract to fund a Phase IIb study of CORAL COVID vaccine in 10,000 subjects. CORAL is a self-amplifying mRNA vaccine that encodes Spike, T-cell and other viral protein antigens. Gritstone anticipates starting the Phase IIb CORAL-BARDA trial in Q1 2024.
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