Jefferies, Wainwright downgrade BeyondSpring after FDA decision

Beyondspring

02/12/2021 12:34

** Jefferies, Wainwright analysts downgrade BeyondSpring Inc
 BYSI.O  after the U.S. Food and Drug Administration (FDA)
declined to approve its drug candidate for prevention of
chemotherapy-induced neutropenia  
    ** FDA indicated that results from a late-stage trial did
not provide enough evidence on the benefits of the drug,
plinabulin, the company said on Wednesday  urn:newsml:reuters.com:*:nL4N2SM34W 
    ** Jefferies downgrades to "hold" from "buy" and cuts PT to
$5 from $38, says  more  cautious  on  filing  the drug as a
candidate for non-small cell lung cancer and  approval outcome -
Jefferies 
    ** Wainwright cuts to "neutral" from "buy" and pulls its PT,
citing factors including failed or inconclusive clinical trials
or inability to secure adequate funding 
     ** 2 of 7 brokerages rate the stock "buy" or higher, 3
"hold" and 1 "sell" or lower; their median PT is $32.00
    ** Stock down 59.59% YTD

 (Reporting by Aishwarya Nair in Bengaluru)