Wedbush analyst Yun Zhong lowered the firm’s price target on Rocket Pharmaceuticals (RCKT) to $16 from $32 and keeps an Outperform rating on the shares after the company an unexpected serious adverse event of capillary leak syndrome leading to a patient death due to an acute systemic infection in the ongoing pivotal Phase 2 study of DP-A501 in Danon disease. The FDA placed the study on clinical hold on May 23 and Rocket has removed the previous guidance for a study update to be provided in mid-2025 and top-line data to be reported in mid-2026, notes the analyst, would agree with management that there should still be a path forward for RP-A501 as the only active clinical program in Danon disease and there should not be a readthrough to RP-A601 in PKP2-ACM.
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