Roth Capital Reaffirms Palatin Technologies (PTN) at 'Buy'; Focus Now on BMT Phase III Data
- Wall Street rises, buoyed by economic data; Dow sets high
- Twitter (TWTR) 'Takeover Money' Moves On as 'Trump Money' Moves In
- Amazon (AMZN) Could Open Over 2,000 Brick-and Mortar Groceries if Tests Succeed - DJ; Kroger (KR) on Watch
- Buy Any Seasonal Market Weakness Ahead of Year End Rally - Oppenheimer (SPY)
- After-Hours Stock Movers 12/05: (TXMD) (COUP) (BOBE) Higher; (SB) (LXRX) (STWD) Lower (more...)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Roth Capital affirmed Palatin Technologies (NYSE: PTN) with a Buy rating and $4 price target after the company Q4 results on Tuesday.
Analyst Joseph Pantginis commented,
We are now at the doorstep of BMT Phase III data which should be released in early 4Q16 although originally slated for late 3Q16. The delay of the data release was partially a result of a meeting with the FDA with the sole purpose of finalizing the statistical analysis plan. PTN wanted to ensure that the methodologies used to evaluate clinical benefit were in line with the FDA's expectations and they stated that they received clarity. PTN described the meeting as collaborative and productive and that they were seeing "eye to eye" on how the data should be handled and analyzed. On the partnering front, PTN states that they have been talking to potential collaborators who have shown great enthusiasm, especially because of the major differentiating factors when compared to the first approved drug for HSDD, Addyi, and its Black Box warnings such as alcohol interactions not seen with BMT. The company hopes to enter into a collaboration sometime between the release of topline data and mid-2017. In addition, there are no competitor products trailing close behind BMT which we believe, if the Phase III data is positive, will place them in a strong position. The long term potential stamina of the drug is a recent Notice of Allowance for a U.S. methods patent, which will provide protection at least through November 2033.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Roth Capital Affirms Stemline Therapeutics (STML) at 'Buy' Following Strong SL-401 Update
- Oppenheimer Raises Price Target on Itron (ITRI) to $70; Reiterates Outperform
- Palatin Technologies Announces Proposed Public Offering of Common Stock and Warrants
Create E-mail Alert Related CategoriesAnalyst Comments, FDA
Related EntitiesRoth Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!