H.C. Wainwright Starts Nabriva Therapeutics AG (NBRV) at Buy
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H.C. Wainwright initiated coverage on Nabriva Therapeutics AG (NASDAQ: NBRV) with a Buy rating and a price target of $16. Analyst Ed Arce is positively on potential for successful readouts of the pivotal Phase 3 LEAP 1 (IV-to-oral) and LEAP 2 (oral only) studies.
Arce said, " ... despite the thorough in vitro data in CABP and the supportive translational data, we acknowledge that some investors may find reason for pause, given that no clinical trials of lefamulin in CABP patients have been conducted prior to the current, ongoing Phase 3 studies. Yet, we view key pre-clinical data (time-dependent killing via 24-hour AUC/MIC model, and substantial lung penetration and epithelial lining fluid (ELF) concentrations in animal and human studies) as strongly predictive of efficacy and supportive of pivotal testing. Importantly, the IV-to-oral LEAP 1 study is being conducted pursuant to a Special Protocol Assessment (SPA) with the FDA, which we view as offering some degree of validation for the trial. With QIDP and Fast Track status granted, and pivotal readouts of both Phase 3 studies expected in 2H17, we initiate coverage of NBRV with a Buy rating."
Shares of Nabriva Therapeutics AG closed at $7.92 yesterday.
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