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AnaptysBio cut to neutral at Guggenheim on future of pipeline

Mar. 22, 2022 9:25 AM ETAnaptysBio, Inc. (ANAB) StockBy: Jonathan Block, SA News Editor

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  • 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.

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