Gamida Cell price target lowered to $5 from $22 at H.C. Wainwright

H.C. Wainwright analyst Vernon Bernardino lowered the firm’s price target on Gamida Cell to $5 from $22 and keeps a Buy rating on the shares. The company provided a business update that was highlighted by outlines for plans to restructure operations, prioritize resources for an expected omidubicel launch, and explore strategic options to support the launch of omidubicel, a candidate hematopoietic stem cell transplant therapy for patients with blood cancers, the analyst tells investors in a research note. The firm continues to assume Gamida launches omidubicel independently, saying it may take time for potential partnership discussions to result in a licensing deal. It assumes the company conducts potential financings of $15M in 2023, and $50M in 2024, "which at current share prices would be significantly dilutive."