H.C. Wainwright Downgrades Mateon Therapeutics (MATN) to Neutral

H.C. Wainwright analyst Joseph Pantginis downgraded Mateon Therapeutics (OTC: MATN) from Buy to Neutral.

Pantginis commented, "This morning, Mateon announced that the FDA has placed OXi4503 on partial clinical hold based on two potential dose-limiting toxicities (DLTs defines as grade 3 or higher) seen at the six dosing cohort (12.2 mg/m2) of the ongoing OX1222 study in relapsed/refractory AML patients. The company recently announced that approximately five of the planned 10 patients had been enrolled at this cohort. One patient saw hypotension following initial treatment, and the other was acute hypoxic respiratory failure approximately two weeks following OXi4503 and cytarabine dosing. These DLTs were deemed possibly related to OXi4503, and could also talk to the underlying mechanism of action of the drug. The FDA is allowing continued dosing in the fifth cohort (9.76 mg/m2)."

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

Shares of Mateon Therapeutics closed at $0.14 yesterday.

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