Retrophin (RTRX) Bullish Stance Reiterated at BMO as RE-024 Gets Accelerated Path To Market
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BMO Capital analyst Do Kim reiterated an Outperform rating and $40 price target on Retrophin (NASDAQ: RTRX) after the company announced it has reached an agreement with the U.S. Food and Drug Administration (FDA) under the Special Protocol Assessment (SPA) process for a Phase 3 clinical trial evaluating RE-024.
Kim commented, "We believe the Special Protocol Agreement (SPA) for RE-024 reached with the FDA acknowledges the significant unmet need for PKAN patients, allowing a single pivotal trial to serve as the basis for registration despite only having Phase I data in healthy volunteers. We believe the implied accelerated regulatory path supports our 2018 launch and $500mn US peak sale opportunity."
Shares of Retrophin closed at $21.07 yesterday.
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