Alliance Global Partners lowered the firm’s price target on Sellas Life Sciences to $7.50 from $8 and keeps a Buy rating on the shares. Gilead announced it discontinued development of magrolimab, their anti-CD47 antibody for acute myeloid leukemia that was in a Phase 3 trial, which leaves Sellas “as a clear leader in the AML space,” the analyst tells investors in a research note. The firm cites the company’s share issuance for the target drop.
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