Skip to main content

Market Overview

Citi Downgrades Mirna Therapeutics To Neutral


Mirna Therapeutics Inc (NASDAQ: MIRN) has cancelled or postponed its earlier plans to initiate two Phase 2 trials for MRX34. Citi’s Yigal Nochomovitz downgraded the rating on the company from Buy to Neutral, while reducing the price target from $7 to $4.50.

Patient Death

Earlier this month, a patient enrolled in the Phase 1 study of MRX34 [microRNA replacement therapy] suffered a serious adverse event, or SAE, which was increased ALT and AST liver function tests. The patient subsequently died. Mirna Therapeutics had reported the event to the FDA and is awaiting a response.

“This marks the 3rd suspected treatment-related death in Ph1 (2 of which were possibly immune-related),” Nochomovitz wrote.

Change In Plans

Mirna Therapeutics had been planning on commencing two Phase 2 trials, for melanoma and RCC, by the end of this year. Following the SAE, the company has cancelled those plans for now, till there is more data from the Phase 1 and Phase 1b trials.

Lower Peak Sales

Nochomovitz reduced the estimate for peak share in liver from 20 percent to 10 percent, which maintaining the peak share estimate in lung at 10 percent.

“We model MRX34 as a combo therapy with TKIs sorafenib and erlotinib in liver and lung respectively,” the analyst wrote. He added, “We can no longer recommend the stock given heightened safety/mechanism concerns.”

Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Latest Ratings for MIRN

Sep 2016HC Wainwright & Co.DowngradesBuyNeutral
Sep 2016CitigroupMaintainsNeutral
Sep 2016Cantor FitzgeraldDowngradesBuyHold

View More Analyst Ratings for MIRN
View the Latest Analyst Ratings


Related Articles (MIRN)

View Comments and Join the Discussion!

Posted-In: Citi Yigal NochomovitzAnalyst Color Downgrades Price Target Analyst Ratings

Latest Ratings

SVLake StreetInitiates Coverage On20.0
CLSDJMP SecuritiesMaintains9.0
WPCJP MorganUpgrades88.0
BRKRCleveland ResearchUpgrades
NTRRaymond JamesDowngrades82.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at