Morgan Stanley notes that Prime Medicine (PRME) announced a prioritization of the company’s pipeline to focus on high-value programs and also announced a collaboration and license agreement with Bristol Myers (BMY) to develop reagents for ex vivo T-cell therapies. The firm views these announcements as “a positive development” as they will focus the company’s resources on key programs and allow the company to extend its cash runway. Morgan Stanley has an Equal Weight rating and $11 price target on Prime shares.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PRME:
- Prime Medicine pact with Bristol doesn’t change thesis, says Stifel
- Morning Movers: Stellantis skids following FY24 guidance cut
- Prime Medicine Strikes $3.5B Deal for T-Cell Therapy Advances
- Prime Medicine unveils strategically focused pipeline
- Prime Medicine announces collaboration, license agreement with Bristol Myers