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Monday, April 1, 2019

Celyad price target lowered to $41 from $51 at Piper Jaffray

Piper Jaffray analyst Edward Tenthoff reiterated an Overweight rating on Celyad, but lowered his price target on shares to $41 from $51 as he pushes out approvals based on clinical progress. The analyst noted that Celyad intends to initiate a potentially registrational Phase II AML study in the second half of 2019, has begun a Phase I study of allogeneic CYAD-101 in mCRC with data in the second half of 2019, and will file INDs on CYAD-211 BCMA and CYAD-221 CD-19 CAR-Ts in 2020.

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