Jan 29, 2024. "JP Morgan upgraded C4 Therapeutics (NASDAQ:CCCC) to neutral, citing its improved pipeline outlook.
The investment bank said it was upgrading the stock after taking a “deeper look” at data released in December from a Phase 1 study for CFT7455, “having gained more comfort with the case for differentiation from key IMiD/CELMoD competitors, namely mezigdomide.”
JP Morgan said if the company can provide a sustained case for differentiation over mezigdomide with additional data readouts, it sees the drug “being a strategically attractive complement to existing multiple myeloma franchises.”
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