Pressure Building to Remove Black Box from TherapeuticsMD's (TXMD) Yuvexxy - Goldman Sachs
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Goldman Sachs analyst Jami Rubin notes that a letter from from Congress builds pressure to remove TherapeuticsMD (NYSE: TXMD) Black Box. This as the stock has been under pressure from short seller. The analyst maintained a Buy rating and price target of $10.50 on TXMD.
"We note that pressure to approve the removal of the black box label for Yuvexxy is growing, as indicated by a letter sent to the FDA on October 11, 2016 (obtained through the Freedom of Information Act) and signed by 70 (predominately female) members of Congress," Rubin notes. "While it is unclear whether the letter itself will impact the FDA’s decision, it does represent growing momentum for a movement made by patients, practitioners, and the wider medical community to increase accessibility for low-dose estrogen products that pose limited systemic risk based on PK studies within the Rejoice trial."
The firm sees this as an attractive buying opportunity for TXMD, with a catalyst-rich 2017 ahead, and the upcoming data from the phase 3 REPLENISH study, which we expect, roughly, within the next 30 days.
Shares of TherapeuticsMD closed at $5.94 yesterday.
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