Also23 Oct 2018 09:19
It will pay to pick the right next-gen therapies... one darling of the moment just took a blow:
https://www.marke****ch.com/story/adaptimmunes-stock-tumbles-after-cancer-study-results-prompts-price-target-cut-2018-10-22
Shares of Adaptimmune Therapeutics PLC ADAP, -29.83% slumped 21% in morning trade Monday, after the results from a trial of its cancer treatment prompted Raymond James to slash its price target. The biopharmaceutical company said over the weekend that it was encouraged by the safety data from ongoing studies of SPEAR T-cells, but said no patients were treated in a Cohort 2 "triple tumour" study because the Safety Review Committee recommended an escalated dose. Raymond James analyst Reni Benjamin cut his target to $16 from $20, as the true efficacy of the product may only be determined at the higher, 5-billion-cell dose level. "Although still early, we believe higher doses will likely need to be evaluated with a larger population," Benjamin wrote in a note to clients. "We are decreasing our probability of success from 35% to 25% as we await a stronger correlation between dose, persistence, and clinical response." The stock has slumped 19% over the past three months but was still up 27% year to date, while the S&P 500 SPX, -0.43% has slipped 1.2% the past three months and has gained 3.6% this year.