Roth Capital Affirms Bioblast Pharma (ORPN) at 'Buy'; Extension Study Data Shows Sustainable Improvements
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Roth Capital affirms Bioblast Pharma Ltd. (Nasdaq: ORPN) at Buy with a price target of $15 after the company announced results of the Extension study for patients who completed HOPEMD.
The firm commented today,
Data from the Extension study are an important next step for the company. The results from the Extension study suggest that trehalose has a positive effect on dysphagia and that discontinuation of the therapy results in an increase in swallowing difficulty. Although the trial is limited in size, we believe that this data complements the results seen in the HOPEMD study and provides useful guidance for the design of the Phase IIb study that is planned to start in 1Q17. Pending FDA sign off, the KOL driven primary endpoint is expected to be the cold water drinking test and dysphagia related quality of life questionnaires. Muscle function, power and weight assessments will be included in the secondary endpoints.
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