Arcus Biosciences initiated with a Neutral at H.C. Wainwright

H.C. Wainwright initiated coverage of Arcus Biosciences (RCUS) with a Neutral rating and $20 price target While the firm is more optimistic about casdatifan given HIF2a is a validated targeted against clear cell renal cell carcinoma with approval of belzutifan, it does not believe 100 mg data for casdatifan on October 24 will deliver an overall response rate significantly better than the 20%-25% observed with belzutifan in LITESPARK studies.