"Deutsche Bank analyst Jennifer Chao downgraded the stock from "Buy" to "Sell" with a new price target of $3.35 from $18, citing the news and lack of further information on the preclinical results. Also cited is the recent resignation announcement by Xanthopoulos.
"While management explicitly states no knowledge of these preclinical toxicity data, timing of these events is likely to be viewed skeptically," she wrote in a note to investors."
Likely? In this case , certain would have been more apt.
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