Wedbush Morgan Downgrades Repros Therapeutics (RPRX) to Hold
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Wedbush Morgan downgrades Repros Therapeutics Inc. (Nasdaq: RPRX) from Buy to Hold and lowers their price target from $12 to $5, citing increased developmental, regulatory and financing risks.
The firm notes additional safety events seen in the 25 mg arms, not just the 50 mg arms a reported. They also said although management reaffirms time lines for an NDA filing in H2:10, they believe there remains a risk for a delay in filing given that four additional studies need to be initiated.
Shares of Repros Therapeutics are down 31% today after the company decided to discontinue the use of the higher, 50 mg dose of Proellex in its ongoing studies in women with chronic symptomatic uterine fibroids and anemia associated with this condition due to an observed dose-dependent increase in liver enzymes in a low percentage of women.
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