SVB Securities analyst Andrew Berens lowered the firm’s price target on Viracta Therapeutics to $5 from $10 and keeps an Outperform rating on the shares. The firm notes the company reported Q2 financial results and provided an update on the pipeline. Importantly, the company announced that they will be prioritizing three lymphoma subtypes enrolled in the pivotal Phase 2 NAVAL-1 trial of NanaVal in EBV+ lymphomas: EBV+ Peripheral T-cell lymphoma, EBV+ diffuse large B-cell lymphoma, and EBV+ post-transplant lymphoproliferative disorders. Additionally, enrollment in the HIV-lymphoma and Hodgkin’s lymphoma cohorts will be discontinued, while enrollment in the extranodal NK/T-cell lymphoma and other ultrarare subtypes of EBV+ lymphoma will continue.
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