NewLink Genetics (NLNK): Investor Day Focus on IDO Combos - Jefferies
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Jefferies analyst, Biren Amin, reiterated his Hold rating on shares of NewLink Genetics (NASDAQ: NLNK) and raised the price target to $12 from $10 after the company hosted an analyst day focused on opportunities for IDO in combo in multiple tumor types.
Management reiterated that its strategy includes multiple shots on goal with indoximod and GDC-0919 (partnered). Plans are being made to move indoximod into late stage trials in 2H17 based on multiple readouts from ongoing PII trials.
A PII single arm Indoximod trial in melanoma combo with ipi, pembro, and nivo has enrolled 75% of 96 expected pts with data in 2H17.
Shares of NewLink Genetics closed at $13.63 yesterday.
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