Reunion Neuroscience downgraded to Hold from Speculative Buy at Stifel

Stifel analyst Andrew Partheniou downgraded Reunion Neuroscience (REUN) to Hold from Speculative Buy with a price target of C$1, down from C$5.50, after the company announced a lawsuit against Mindset Pharma Inc. (MSSTF), alleging Mindset knowingly copied RE104 and misleadingly presented it as its own invention when applying for a patent. While stating that patent law is "extremely complex" and that the firm does not "presume to have a strong belief on what an eventual resolution will look like," it seems to Stifel that this conflict "presents a significant hurdle" for Reunion to raise the additional capital necessary to further develop RE104.