TD Cowen Downgrades Aadi Bioscience Inc (AADI) to Hold
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Aadi Bioscience Provides PRECISION1 Trial and Corporate Updates
August 20, 2024 5:00 PM EDTPRECISION1 tumor-agnostic trial unlikely to meet regulatory threshold to support an accelerated approval and will be halted
Aadi will focus on FYARRO® commercial business for its approved indication, PEComa, and conduct a comprehensive strategic review to maximize shareholder value
To further preserve cash position, Aadi will adjust ongoing Phase 2 trials and reduce R&D headcount by 80%, thereby extending cash runway into at least 2H 2026
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