Alliance Global Partners lowered the firm’s price target on PDS Biotechnology (PDSB) to $4.50 from $7 and keeps a Buy rating on the shares after the company announced Q3 results and guidance on the study design and initiation of its upcoming VERSATILE-003 Phase 3 registrational trial in the double-combination of PDS0101 and Keytruda, expected to begin in Q1 2025. The firm notes that recent disruption in the HNSCC space from Merck’s (MRK) Keytruda and its recent success in the KEYNOTE-689 study is unlikely to affect the Versamune double combination since KEYNOTE-689 enrolled very few HIV16+ patients.
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