Cempra (CEMP): Approval Vote Adds Burdensome Marketing Restrictions - Baird
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Baird analyst, Brian Skorney, reiterated his Underperform rating on shares of Cempra, Inc. (NASDAQ: CEMP) aafter the mixed panel vote on Soli.
The vote was 7-6 in favor of approval but marketing restrictions are likely to be so burdensome that based on panelists concerns over drug-induced liver injury and the unanimous requests to restrict and monitor it, the commercial potential could be negligible.
Although the analyst expects the stock to give up some of its losses on short covering, he continues to see the soli opportunity as fundamentally impaired by safety concerns.
No change to the price target of $6.
Shares of Cempra, Inc. closed at $7.55 yesterday.
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