AC Immune (ACIU) Could Be Under Pressure Following Eli Lilly Sola Failure - Leerink
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Leerink Partners analyst Paul Matteis sees AC Immune SA (NASDAQ: ACIU) under pressure today after Eli Lilly announced that announced that its EXPEDITION3 study of solanezumab in Alzheimer's did not meet its primary endpoint; the study showed (likely a very small) trend on cognition (p=.095).
Matteis commented, "We expect ACIU shares to be under pressure today given the perceived read-through from the solanezumab (sola) result; however, we see specific differences between sola and crenezumab, and perceive the latter as much more similar to BIIB's aducanumab. While we will look to our model and assumptions once the full sola data are presented at CTAD on December 8th, our current 40% probability-of-success for crenezumab already balances optimism surrounding product profile/ph3 design while considering meaningful outstanding risk. And at a fully diluted market cap of ~$800MM (as of yesterday's close), we believe the stock implicitly assumes both a lower probability than this for crenezumab and little credit for ACIU's pipeline, which includes 4 partnered and 1 wholly owned clinical-stage asset."
The firm maintained an Outperform rating on ACIU.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mnuchin Wants Fannie (FNMA)/Freddie (FMCC) Out of Government Hands, But Stocks Grossly Overvalued - Keefe, Bruyette & Woods
- Sarepta Therapeutics (SRPT) Exondys 51 'Medically Necessary' at Aetna When Certain Criteria are Met
- Jefferies Raises Price Target on US Physical Therapy (USPH) to $63 Following 12-Clinic Acquisition
Create E-mail Alert Related CategoriesAnalyst Comments, FDA, Trader Talk
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!