Stifel lowered the firm’s price target on Kinnate Biopharma to $5 from $8 and keeps a Hold rating on the shares. While Stifel believes initial exarafenib data presented at AACR 2023 show signs of activity in late-line BRAF-mutated cancers, experience in class-2 patients remains limited. Without more evidence on the efficacy of the drug at the 300mg BID dose, Stifel finds it hard to gain conviction that exarafenib is differentiated from other pan-RAF inhibitors.
Published first on TheFly
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