Sprint Bioscience: Hibercell returns PETRA01 to Sprint - Redeye

Redeye is disappointed to learn that Sprint’s former partner, Hibercell, returned the PETRA01 project to Sprint. We believe this constitutes a significant setback for Sprint, reducing the company’s out-licensed portfolio to two projects. Additionally, the company announced that CEO Erik Kinnman will leave the company. We adjust our estimates and lower our valuation.

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