JonesResearch upgrades IN8bio to Buy on ‘impressive’ AML data

JonesResearch upgraded IN8bio (INAB) to Buy from Hold with a $1.20 price target The stock in morning trading is up 26%, or 7c, to 34c. The company continues to show 100% relapse-free survival at a median follow up of 20.1 months for acute myeloid leukemia patients, the analyst tells investors in a research note. The firm points out that three patients remain relapse free at over three years. Jones says that while the capital overhang remains the key risk for IN8bio, it now expects to see multiple data points from the expansion cohort “which could create inflection points.” The firm views the AML data as “impressive” and upgraded the shares.