- Guggenheim has downgraded AnaptysBio (NASDAQ:ANAB) to neutral from buy and removed its price target.
- Analyst Yatin Suneja said that the company board's plan for a strategic portfolio review brings uncertainty to its drug pipeline.
- He added that Monday's announcement that CEO Hamza Suria has stepped down adds additional uncertainty to the company.
- Suneja noted that the company will not begin a search for a permanent CEO until the strategic review is completed.
- AnaptysBio's (ANAB) acne candidate, imsidolimab, recently failed in a phase 2 trial, leading the company to stop development in that indication.