BofA analyst Jason Gerberry lowered the firm’s price target on Mirati Therapeutics to $46 from $54 and keeps a Neutral rating on the shares after the company announced that EU regulator issued a negative CHMP opinion regarding conditional approval of Krazati in second-line lung cancer. The decision creates a risk that an approval could get pushed to early 2025 if confirmatory Phase 3 data are ultimately required for Krazati approval, the analyst tells investors.
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