BMO Capital raised the firm’s price target on Replimune (REPL) to $18 from $14 and keeps an Outperform rating on the shares. The company has completed its BLA – biologics license application – submission for RP1 in anti-PD1 refractory melanoma patients in combination with nivolumab, and the successful BLA submission and breakthrough therapy designation builds investor confidence in Replimune management and their ability to maintain timelines to achieve critical milestones, the analyst tells investors in a research note. With RP1 approaching approval, the management may also start to discuss plans for commercialization in more detail, BMO added.
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