Polyphor: Murepavadin's safety analysis worries Deutsche Bank

Spexis AG

13/05/2019 07:36

** Deutsche Bank downgrades Swiss biotech company Polyphor
 POLN.S  to "hold" from "buy" and slashes the target price to
CHF 17 from CHF 68 "pending visibility on safety analysis of
murepavadin"
    ** Polyphor temporarily halted enrolment in phase III
studies of Murepavadin for treatment of patients with nosocomial
pneumonia due to a higher than expected rate of kidney injury
 urn:newsml:reuters.com:*:nFWN22L1CI
    ** DB says the overall risk that kidney toxicity is less
manageable than anticipated has increased substantially
    ** "Polyphor's decision (...) raises significant uncertainty
over the programme's future," DB adds 
    ** The broker says shares will trade at a discount until
investigations are complete and the company's strategic
direction is confirmed or re-evaluated 

 ((bruno.dubrulle@thomsonreuters.com))