Neoleukin cut to Hold at Stifel on plans to drop lead asset [Seeking Alpha]
Neoleukin Therapeutics, Inc. (NLTX)
Company Research
Source: Seeking Alpha
Neoleukin cut to Hold at Stifel on plans to drop lead assetNov. 15, 2022 9:24 AM ETNeoleukin Therapeutics, Inc. (NLTX)By:Dulan LokuwithanaSA News EditorPgiam/iStock via Getty ImagesNanocap biotech Neoleukin Therapeutics (NASDAQ:shed ~19%Neoleukin (the disclosure on Monday with its Q3 2022 results, in which the management said that strategicreasons led to the decision."We will be using the information we have learned from the development of NL-201 and advances in protein design to build the next generation of de novo protein therapeutics," Chief Executive Jonathan Drachman remarked.While the company plans to share pre-clinical data for a new therapeutic candidate at ASH 2022, Stifel analysts led by Benjamin Burnett have yet to include that in their model as details on that development strategy remain unknown.The team also points to Neoleukin's (Wall Street has remained bullish on Neoleukin (average rating of BuySystem, which consistently beatsrated NLTX as a Hold.
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