BUZZ-Maxim cuts Acrivon PT on deprioritization of ovarian and bladder programs

Reuters04-01

** Maxim Group cuts PT on drug developer Acrivon Therapeutics ACRV.O to $7 from $24

** Cites deprioritization of ovarian and bladder programs

** "Management announced that due to a higher bar in ovarian cancer and difficulty recruiting OncoSignature positive patients in bladder cancer, the company is deprioritizing these programs," says brokerage

** Adds the data in endometrial cancer is still quite strong and with a positive safety profile

** New PT is ~245% upside to stock's last close

** Nine of 10 brokerages rate stock "buy" or higher, and 1 "hold"; median PT is $15 - data compiled by LSEG

** ACRV shares down ~66% YTD, as of last close; they rose ~22% in 2024

(Reporting by Ateev Bhandari in Bengaluru)

((Ateev.Bhandari@thomsonreuters.com; ))

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