H.C. Wainwright analyst Edward White lowered the firm’s price target on Tracon Pharmaceuticals to $3 from $6 and keeps a Buy rating on the shares. Tracon announced that the independent data monitoring committee recommended the ENVASARC Phase 2 pivotal trial of envafolimab continue as planned following a review of ongoing safety and efficacy data, the analyst tells investors in a research note. The firm now sees a 20% probability of success for envafolimab vs. prior expectations of 35%.
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