UPDATE: Brean Capital Downgrades Ohr Pharmaceutical (OHRP) to Hold
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(Updated - August 10, 2016 9:48 AM EDT)
Brean Capital downgraded Ohr Pharmaceutical (NASDAQ: OHRP) from Buy to Hold and removed its price target (prior $30.00). Analyst Jonathan Aschoff expressed concerns about phase 3 funding and design.
"We are downgrading Ohr to Hold from Buy due to our concerns over the company being able to fund its Phase 3 program and the increased frequency of background therapy in Phase 3 versus Phase 2. The company still has not disclosed data it said was coming months ago regarding 20 wet AMD patients taking OHR-102 and monthly Lucentis versus monthly Lucentis only and we would appreciate seeing that data to gain more comfort in the Phase 3 design. Ohr will only say that the small trial is still ongoing," said Aschoff.
Shares of Ohr Pharmaceutical closed at $2.72 yesterday.
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