Needham & Company Maintains a 'Hold' on Chelsea Therapeutics (CHTP); Need More Clarity
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Price: $2.45 -5.04%
Rating Summary:
2 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
2 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade CHTP Now!
Needham & Company maintains a 'Hold' on Chelsea Therapeutics (NASDAQ: CHTP).
Analyst, Alan Carr, said, "Chelsea held an End-of-Review meeting with the FDA in May 2012 to discuss the Northera NDA and Complete Response letter. Written comments from the agency were received in July 2012. The FDA has reportedly suggested that another registration trial will be needed for approval and that the ongoing Phase 3 Study 306b may not suffice. Chelsea subsequently announced a corporate restructuring, resulting in management changes. The company is currently evaluating options and we expect an update later in 3Q12...Despite a valuation near cash ($30M EV), we remain cautious on the stock until there is greater clarity on regulatory requirements for Northera in NOH. Chelsea ended 1Q12 with $51.7M in cash, up from $45.6M in 4Q11."
For an analyst ratings summary and ratings history on Chelsea Therapeutics click here. For more ratings news on Chelsea Therapeutics click here.
Shares of Chelsea Therapeutics closed at $1.17 yesterday, with a 52 week range of $0.70-$6.00.
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Analyst, Alan Carr, said, "Chelsea held an End-of-Review meeting with the FDA in May 2012 to discuss the Northera NDA and Complete Response letter. Written comments from the agency were received in July 2012. The FDA has reportedly suggested that another registration trial will be needed for approval and that the ongoing Phase 3 Study 306b may not suffice. Chelsea subsequently announced a corporate restructuring, resulting in management changes. The company is currently evaluating options and we expect an update later in 3Q12...Despite a valuation near cash ($30M EV), we remain cautious on the stock until there is greater clarity on regulatory requirements for Northera in NOH. Chelsea ended 1Q12 with $51.7M in cash, up from $45.6M in 4Q11."
For an analyst ratings summary and ratings history on Chelsea Therapeutics click here. For more ratings news on Chelsea Therapeutics click here.
Shares of Chelsea Therapeutics closed at $1.17 yesterday, with a 52 week range of $0.70-$6.00.
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