Setback For Theseus Pharmaceuticals: Analysts Cut Price Targets But Remain Bullish On Stock

Theseus Pharmaceuticals Inc (NASDAQ:THRX) shares nose-dived after the company announced discontinuing enrollment in the ongoing phase 1/2 study and terminating the development of THE-630 in patients with gastrointestinal stromal tumors (GIST) after reporting dose-limiting toxicities.

Cantor Fitzgerald says the announcement is a clear disappointment. The analyst maintains the Overweight rating with a price target of $7, down $23 (after removing THE-630 from the model), as the analyst is still optimistic about the platform.