Australia's Clarity Pharmaceuticals drops; Jefferies cuts PT on downbeat outlook

Clarity Pharmaceuticals

22/04/2025 05:35

** Shares of Clarity Pharmaceuticals CU6.AX fall 4.5% to A$1.815

** The pharma firm said it will now prioritise development of 64/67Cu-SAR -bis-PSMA for diagnostic and therapeutic applications in prostate cancer

** Jefferies cuts price target to A$4.70 from A$7, retains "buy" rating, based on net present value of co's late-stage pipeline

** Brokerage says it now assumes capital raise in FY26 to address cash reserves and R&D spend to decrease in FY25E

** Also revises Bis-PSMA PCa therapy take-up rate for prostate cancer rate to 5% from 9%

** Clarity stock up 57.1%, YTD

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))