BTIG Says Kite Pharma's (KITE) ZUMA-1 Data Doesn't Alter Broader Picture; Affirms at 'Neutral'
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BTIG affirmed its Neutral rating on Kite Pharma (Nasdaq: KITE) amid ZUMA-1 study results released Monday night.
Analyst Dane Leone commented,
We think that the 3-month Complete Response rate of ~33% for the DLBCL cohort is within the 30 – 40% range expected by investors, and the 2 patient deaths as a result of Cytokine Release Syndrome may create some investor concern regarding FDA approvability. Overall, the 3-month results from the ZUMA-1 study does not alter our expectations relative to Juno (Nasdaq: JUNO) or Novartis (NYSE: NVS).
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