TD Cowen Downgrades Aadi Bioscience Inc (AADI) to Hold

TD Cowen analyst Boris Peaker downgraded Aadi Bioscience Inc (NASDAQ: AADI) from Buy to Hold.

The analyst comments "Aadi management announced that the PRECISION1 trial in TSC1/2 solid tumors will be discontinued due to low probability of meeting the efficacy threshold needed for accelerated approval. Concurrently, the company will preserve cash runway by pausing enrollment in the ongoing Phase I NET and EEC trials and reducing its R&D workforce by 80%. We therefore downgrade to a Hold (2) recommendation."

For an analyst ratings summary and ratings history on Aadi Bioscience Inc click here. For more ratings news on Aadi Bioscience Inc click here.

Shares of Aadi Bioscience Inc closed at $1.62 yesterday.

You May Also Be Interested In

• KGI Securities Downgrades Netflix (NFLX) to Neutral
• H.C. Wainwright Reiterates Buy Rating on Alpha Tau Medical Ltd. (DRTS)
• Abbott Labs (ABT) Reiterated at Buy by Benchmark After Q2 Revenue Beat