BTIG Remains Neutral on Juno Therapeutics (JUNO); Says JCAR015 Will Have 'Limited Impact' on Ests
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The firm commented today,
This follows the FDA mandated clinical hold back in July after several patients died in the ROCKET study, but the trial hold was lifted after a week with a protocol change to eliminate fludarabine preconditioning. Expectations for JCAR015 were reduced after the first clinical hold, so although today’s announcement will be a negative for sentiment on JUNO heading into ASH, it has limited impact on our financial estimates.
We think that the JCAR015 program will be terminated, with the ROCKET study for Adult ALL being the lead study. Management is still evaluating strategic options, and may see a path forward but would not commit to a decision on the call with investors.
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