Jefferies analyst Akash Tewari downgraded Zentalis to Hold from Buy with a price target of $6, down from $42, after the company announced the FDA placed a partial clinical hold on three mono azenosertib studies after two deaths presumably due to sepsis in the Phase 2 study DENALI. While the firm continues to think WEE1 is “an interesting target” and notes that a dose response and “encouraging efficacy signals” were seen in trials, it is moving to the sidelines until there is more clarity on safety.
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