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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.

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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