YMAB - Y-mAbs down 19% on FDA briefing docs on omburtamab but Citi still optimistic
- Despite US FDA briefing documents released Wednesday expressing concerns about efficacy for Y-mAbs Therapeutics' ( NASDAQ: YMAB ) omburtamab for neuroblastoma, Citi is confident the candidiate can win approval.
- Shares are down 19% in Thursday afternoon trading.
- FDA reviewers expressed concerns over the external control population used in a trial, bias, and the lack of reliable response rate data.
- However, Citi analyst Alec Stranahan believes the candidate will win approval due to tumor shrinkage evidence, overall survival data, and unmet medical need. He added that omburtamab is "the best treatment so far for the disease."
- Stranahan did admit that omburtamab faces an uphill battle at Friday's FDA advisory committee meeting.
- Seeking Alpha's Quant Rating views Y-mAbs ( YMAB ) as a hold with high marks for momentum and growth .
For further details see:
Y-mAbs down 19% on FDA briefing docs on omburtamab, but Citi still optimistic