Kite Pharma Reports Second Quarter 2016 Financial Results
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Kite Pharma (KITE) PT Trimmed to $77 at Maxim Group
August 9, 2016 7:56 AM EDTMaxim Group analyst Jason McCarthy reiterated a Buy rating on Kite Pharma (NASDAQ: KITE) but lowered its price target to $77.00 (from $87.00) following Q2 results.
McCarthy highlighted:
Kite reported 2Q16 with $4.8M in revenue and a net loss of $64.3M. The company began the quarter with $531M in cash.Kite continues to advance its lead CAR-T program KTE-C19 towards pivotal data, expected this fall. The ZUMA-1 study has completed enrollment of all 72 relapsed/refractory (r/r, i.e. salvage setting) lymphoma patients and data from the first 50 patients,... More