H.C. Wainwright analyst Swayampakula Ramakanth downgraded Aveo Pharmaceuticals to Neutral and cut his price target for the shares to $1 from $9. The company yesterday announced that the FDA has recommended against the filing of tivozanib new drug application, citing the drug’s potential detriment to overall survival seen in the results of the TIVO-3 study, Ramakanth tells investors in a research note. This development adds “significant uncertainty” to the future of tivozanib in the U.S. as a monotherapy, says the analyst.
https://thefly.com/landingPageNews.php?id=2857535
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