Leerink Partners Downgrades Viracta Therapeutics (VIRX) to Market Perform

Leerink Partners analyst Andrew Berens downgraded Viracta Therapeutics (NASDAQ: VIRX) from Outperform to Market Perform with a price target of $3.00 (from $5.00).

The analyst comments: "We are downgrading Viracta (VIRX) to Market Perform (MP) following the recently released Phase 2 data from the EBV+ R/R peripheral T-cell lymphoma (PTCL) cohort of the single arm NAVAL-1 trial for nanatinostat in combination with valganciclovir (Nana-val). The stage 1 (N=10) and stage 2 (N=11) ORR was 41% (7/17; 24% CR) in the efficacy evaluable ITT population (median 3L) and 33% (7/21; 19% CR) in the overall ITT population. While in a larger population versus the last update, the efficacy decreased from the prior ORR of 71% (5/7; see note), which the company attributed to a lower proportion of 2L patients in stage 2 versus stage 1. At this update, VIRX highlighted the improved efficacy in 2L only patients, where the ORR was 67% (6/9; 33% CR) in efficacy evaluable ITT and 60% (6/10) overall."

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

Shares of Viracta Therapeutics closed at $0.35 yesterday.

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