** Shares of drug maker Clinuvel Pharmaceuticals CUV.AX slip as much as 8.24% to A$10.130, lowest since July 8, 2025

** Jefferies trims its price target to A$40.50 from A$42.60 and pares back FY26 EPS estimates by ~11%, hurt by slower EPP‑market sales growth, others

** Brokerage flags CUV’s longer‑term catalysts in its expanding Americas footprint and ongoing vitiligo trials, noting that 1H FY26 volumes slipped ~2% as some prospective U.S. patients were likely diverted into a competitor’s clinical study

** Jefferies still projects around 2% FY26 volume growth as the market broadens, with first key drug CUV105 Phase 3 vitiligo results slated for the second half of CY26

** Stock down 7.8% so far this month

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))