Cantor Fitzgerald Downgrades Rapt Therapeutics (RAPT) to Neutral, 'Too Many Unknowns Right Now'

Cantor Fitzgerald analyst Prakhar Agrawal downgraded Rapt Therapeutics (NASDAQ: RAPT) from Overweight to Neutral.

The analyst commented: "RAPT announced that the FDA has verbally notified the company that a clinical hold (full) has been placed on the ongoing trials for lead inflammation drug called zelnecirnon (RPT193, oral CCR4 antagonist) after a liver failure event in ONE patient in the ongoing atopic dermatitis trial, potentially related to zelnecirnon. Stock is trading down 60% on this news vs. XBI flat."

"Currently, there are several confounding factors for this isolated liver fail case — herbal supplement has some literature support as a potential cause of liver failure. Although, given these confounding factors, we are unsure if it's even possible to rule out zelnecirnon as possible cause of liver fail."

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

Shares of Rapt Therapeutics closed at $25.97 yesterday.

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