Boundless Bio downgraded to Market Perform from Outperform at Leerink
Leerink downgraded Boundless Bio (BOLD) to Market Perform from Outperform with a price target of $3, down from $15. The company is discontinuing current monotherapy and combination arms of BBI-355 in the Phase 1/2 POTENTIATE clinical trial based on a narrow therapeutic index observed with dosing, the analyst tells investors in a research note. The firm is moving to the sidelines pending validation of Boundless Bio's new approach. It removed all value for the CHK1 program until the company validates the BBI-355 and BBI-825 combination hypothesis in specific tumor types.
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