Setback For Theseus Pharmaceuticals: Analysts Cut Price Targets But Remain Bullish On Stock
Portfolio Pulse from Vandana Singh
Theseus Pharmaceuticals Inc (NASDAQ:THRX) shares plummeted after the company announced discontinuation of enrollment in a phase 1/2 study and termination of the development of THE-630 for gastrointestinal stromal tumors due to dose-limiting toxicities. Analysts from Cantor Fitzgerald, Needham, Wedbush, and HC Wainwright have cut their price targets but remain optimistic about the company's platform. The company is considering developing low-dose THE-630 for KIT-associated mast cell-driven inflammatory indications.
July 14, 2023 | 6:59 pm
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Theseus Pharmaceuticals' stock price has dropped significantly due to the discontinuation of a study and termination of a drug development. Despite this, analysts remain optimistic about the company's platform and future prospects.
The discontinuation of the study and termination of the drug development is a significant setback for Theseus Pharmaceuticals, leading to a drop in its stock price. However, analysts remain optimistic about the company's platform and future prospects, which could potentially mitigate the negative impact in the long term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100