JMP Securities downgraded Spruce Biosciences (SPRB) to Market Perform from Outperform without a price target The firm is stepping to the sidelines after tildacerfont missed in the Phase 2b CAHmelia-204 trial. Despite some evidence of more effective twice-daily doses in the Phase 2 CAHptain-205 trial, the data apparently are not convincing enough for further investment in congenital adrenal hyperplasia, the analyst tells investors in a research note.
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