Needham & Company Downgrades Argos Therapeutics (ARGS) to Hold

Needham & Company downgraded Argos Therapeutics (NASDAQ: ARGS) from Buy to Hold.

Analyst Chad Messer commented, "Argos announced that the pivotal Phase III ADAPT trial of rocapuldencel-T (AGS-003) in renal cell carcinoma (RCC) reached futility at a pre-specified interim analysis. The Independent Data Monitoring Committee (IDMC) has recommended discontinuation of the trial. Argos plans to leave the trial open pending further data review and FDA discussion, however, we view the likelihood of approval in RCC, our main valuation driver, as too uncertain. We are downgrading shares to Neutral."

For an analyst ratings summary and ratings history on Argos Therapeutics click here. For more ratings news on Argos Therapeutics click here.

Shares of Argos Therapeutics closed at $4.40 yesterday.

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