JonesResearch downgraded IN8bio to Hold from Buy without a price target. While the company’s data “remain impressive,” a capital overhang will likely “remain the main drag on the stock,” the analyst tells investors in a research note. The firm downgraded the shares pending clarity around funding for the registration enabling acute myeloid leukemia trial. It estimates $35M-$40M is needed for the 300 patient trial.
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