Rodman & Renshaw Starts Oasmia Pharmaceuticals (OASM) at Buy
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Rodman & Renshaw initiated coverage on Oasmia Pharmaceuticals (NASDAQ: OASM) with a Buy rating and a price target of $6. Analyst Raghuram Selvaraju highlighted its risk-mitigated, cost-effective approach to drug development.
"In our view, this company constitutes a risk-mitigated opportunity due to: (1) its exclusive focus on developing next-generation formulations of approved drugs with well-known efficacy profiles in oncology indications; (2) its strategy to secure product approvals based on the 505(b)(2) regulatory pathway in the U.S. and the Mixed Application pathway in Europe, which permits accelerated review and allows submission of data facilitating approval based on clinical bioequivalence against marketed agents rather than head-to-head efficacy trials; (3) Oasmia's targeting of both human and veterinary health applications; and (4) its unique ability to develop truly water-soluble formulations, which eschew a need for toxic excipients and thus provide the advantage of better safety and tolerability while improving dosing simplicity and convenience," said Selvaraju.
Shares of Oasmia Pharmaceuticals closed at $3.40 yesterday.
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