NKX101's Leukemia Setting Phase 1 Results a Setback for Nkarta: Analyst Lowers Price Target Amid Revised Development Timeline
Portfolio Pulse from Vandana Singh
Nkarta Inc's Phase 1 study of NKX101 for treating acute myeloid leukemia (AML) has been deemed a setback by Needham, leading to a revised development timeline and a lowered price target from $26 to $19. The company plans to enroll more patients in the trial and provide an update in 1H 2024. NKTX shares are down 35.50% at $2.92.
June 27, 2023 | 7:13 pm
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Nkarta Inc's NKTX shares are down 35.50% following a setback in the Phase 1 study of NKX101 for AML, leading to a revised development timeline and a lowered price target from $26 to $19 by Needham.
The setback in the Phase 1 study of NKX101 for AML has led to a revised development timeline and a lowered price target for Nkarta Inc's NKTX shares. This has negatively impacted investor confidence, leading to a significant drop in the stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100