** Shares of Clarity Pharmaceuticals CU6.AX fall 4.5% to A$1.815
** The pharma firm said it will now prioritise development of 64/67Cu-SAR -bis-PSMA for diagnostic and therapeutic applications in prostate cancer
** Jefferies cuts price target to A$4.70 from A$7, retains "buy" rating, based on net present value of co's late-stage pipeline
** Brokerage says it now assumes capital raise in FY26 to address cash reserves and R&D spend to decrease in FY25E
** Also revises Bis-PSMA PCa therapy take-up rate for prostate cancer rate to 5% from 9%
** Clarity stock up 57.1%, YTD
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))
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