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NEW YORK –BTIG said Monday that it has initiated coverage of diagnostics firm Oncocyte with a Buy rating and a price target of $5 per share.

Oncocyte's product offerings include DetermaRx, a tissue-based gene expression test intended to inform therapeutic decisions in early-stage lung cancer, and the currently research-use-only DetermaIO, which assesses the tumor microenvironment to predict immunotherapy response.

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Moderna reports its vaccine is effective against new SARS-CoV-2 strains, though it is also developing a booster, according to the New York Times.

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NPR reports Merck is halting the development of its two candidate SARS-CoV-2 vaccines following disappointing Phase 1 results.

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