Morgan Stanley notes that Prime Medicine (PRME) announced a prioritization of the company’s pipeline to focus on high-value programs and also announced a collaboration and license agreement with Bristol Myers (BMY) to develop reagents for ex vivo T-cell therapies. The firm views these announcements as “a positive development” as they will focus the company’s resources on key programs and allow the company to extend its cash runway. Morgan Stanley has an Equal Weight rating and $11 price target on Prime shares.
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