BTIG analyst Yun Zhong downgraded Magenta Therapeutics to Neutral from Buy with no price target after the company announced that the latest participant dosed at the Cohort 3 level in the ongoing MGTA-117 Phase 1/2 Dose-Escalation Clinical Trial in relapsed/refractory acute myeloid leukemia, or AML, and myelodysplastic syndrome, or MDS, experienced a Grade 5 Serious Adverse Event. Magenta reported the death of the latest patient that received the Cohort 3 dose and the firm worries that the likelihood of an FDA approval for Magenta to evaluate MGTA-117 in transplant-eligible patients "has been significantly reduced" given that MGTA-117’s toxicities "appear to be more serious that we expected."
Published first on TheFly
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- Wedbush downgrades Magenta Therapeutics to Neutral, lowers target to $1
- Magenta Therapeutics downgraded to Neutral from Outperform at Wedbush
- Magenta Therapeutics pauses MGTA-117 trial following Grade 5 SAE
- Magenta Therapeutics Voluntarily Pauses the MGTA-117 Phase 1/2 Dose-Escalation Clinical Trial to Investigate Drug Safety
- Magenta Therapeutics price target lowered to $3 from $6 at BTIG
