Increased Approval ProbabilityThe probability of approval for RP1 + Opdivo in anti-PD1 failed melanoma patients has been raised to 85% from the prior 50%.
Market ConfidenceThe analyst has upgraded the stock to 'Buy' with a price target of $12 per share, reflecting confidence in the company's potential.
Regulatory ProgressThe FDA has accepted the resubmission of the Biologics License Application for RP1 + Opdivo for review, indicating progress towards potential approval.