Ladenburg analyst Aydin Huseynov lowered the firm’s price target on Sellas Life Sciences to $6 from $9 and keeps a Buy rating on the shares. Sellas is expecting the Independent Data Monitoring Committee, or IDMC, to meet in June and decide whether the data from Phase 3 pivotal trial of GPS in 127 enrolled patients matured for interim analysis, notes the firm, which still estimates the probability of success for the Galinpepimut-S vaccine for Acute Myeloid Leukemia in second complete remission patients to be 50%. The firm reduced its price target to adjust for the warrants as it awaits the results from the Phase 3 trial.
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