Elevation Oncology rises on promising data on cancer drug

Elevation Oncology

27/05/2022 13:51

** Shares of Elevation Oncology  ELEV.O  up 3.9% to $3.48 in
premarket trade 
    ** Says initial data from mid-stage study of experimental
drug seribantumab in patients with some advanced cancers
supports drug's potential to induce deep and durable benefit
 urn:newsml:reuters.com:*:nPn2356R0a
    ** Brokerage SVB Securities says drug shows consistent
safety profile but data in larger patient populations necessary
to determine potential differentiation with Merus'  MRUS.O 
zenocutuzumab; maintains PT of $11
    ** All 5 brokerages covering ELEV rate stock "buy" or
higher; their median PT is $12
    ** Stock down 44% YTD, up to last close

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))