Morgan Stanley downgraded Mural Oncology (MURA) to Equal Weight from Overweight and removed the firm’s prior $13 price target after removing the platinum-resistant ovarian cancer indication for nemvaleukin from the firm’s model following the company having announced interim results of the Phase 3 ARTISTRY-7 trial. The firm now looks toward topline data from ARTISTRY-6 in mucosal melanoma in Q2 in order to assess the viability of Mural’s lead asset, the analyst tells investors.
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