Baird analyst Joel Beatty lowered the firm’s price target on Immutep to $6 from $7 and keeps an Outperform rating on the shares after the company announced Phase 2b results for its lead agent efti in head and neck squamous cell cancer. The firm believes the favorable trend on overall response rate is consistent with a drug effect, but views the magnitude of effect as somewhat below expectations. These trial results leave non-small cell lung cancer as the most promising setting for efti, the analyst tells investors in a research note.
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