Jul. 30 at 6:44 PM
Cantor⬆️
$REPL to Overweight from Neutral and said that it expects shrs to trade to pre-CRL levels over
$12/shr in the case the CRL is overturned—views odds of RP1's Accelerated Approval (AA) as greatly improved.
$IOVA $AMGN $ONCY $CAPR
Cantor said, "We are upgrading
$REPL from N to OW on the news of CBER head Dr. Vinay Prasad's departure last night."
Cantor added, "Our sense is the surprise CRL of RP1 on 7/22 was a result of senior leadership (likley Dr. Prasad) overruling the review team, and we view his departure as removing a major obstacle for the potential CRL overturn.
As such, we now view the odds of RP1's Accelerated Approval (AA) as greatly improved, assuming the review team remains supportive of the approval."
