Brokerages cut PT for Rubius as lead drug's data disappoints

Rubius Therapeutics

11/04/2022 11:43

** Updated early-stage trial data from Rubius Therapeutics'
 RUBY.O  lead candidate, RTX-240, in patients with advanced
solid tumors shows it controlled disease in only 10 of 27
evaluated patients, of which three showed partial responses
 urn:newsml:reuters.com:*:nL3N2W631O
    ** At least three brokerages cut their PTs on the drug
developer's stock
    ** SVB Leerink says update largely underwhelming and reflect
limited anti-tumor activity for RTX-240 as single agent; cuts PT
to $3 from $5 
    ** HC Wainwright cuts PT to $15 from $40, as lower than
expected efficacy levels in trial shows RTX-240 is not viable as
a monotherapy
    ** But, Wainwright believes two upcoming data readouts in
the second half may be 'meaningful catalysts' for RUBY - initial
data for RTX-240 plus Merck's  MRK.N  pembrolizumab in solid
tumors, and initial data for RUBY's other candidate RTX-321;
reiterates 'buy' rating
    ** Three out of six brokerages covering stock rate it 'buy'
or higher, three rate 'hold'; their median PT is $20

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))