Mainz Biomed downgraded to Neutral from Buy at H.C. Wainwright

H.C. Wainwright downgraded Mainz Biomed (MYNZ) to Neutral from Buy without a price target after the company presented key data from the eAArly DETECT study, showing 97% sensitivity for colorectal cancer and 82% for advanced precancerous lesions. While the data for the ColoAlert test are encouraging, the company needs to raise a significant amount of capital to complete eAArly DETECT 2 and a pivotal study before regulatory submission, the analyst tells investors in a research note.