Roth Affirms Flex Pharma (FLKS) at 'Buy' Following Positive NLC POC Data

Roth Capital reaffirms Flex Pharma (Nasdaq: FLKS) with a Buy rating and $27 price target after FLKS announced that its extract formulation demonstrated efficacy in treating NLC in a randomized, controlled, blinded study. Statistically significant effects (p<0.05) were demonstrated on key endpoints: muscle cramp frequency; the physician-rated Clinical Global Impression of Change (CGI-C); specific sleep disturbance measures; and specific pain measures, Flex Pharma noted.

Analyst Joseph Pantginis commented, These data are encouraging as they point to the efficacy of FLKS' approach of targeting TRP ion channels to reduce cramping intensity and frequency. As the company prepares to continue its NCL clinical program with its lead synthesized chemical compound, FLX-787, it also has the advantage of having three other such compounds ('788, '797, '798) that could be used for NCL, MS and ALS. Recall that FLKS is preparing to initiate two ex-U.S. studies for ALS and MS in 1H16 with '787. The company is targeting an IND in 1H17.

On the firm's Buy rating, Pantginis said, We believe that Flex Pharma's dual business model consisting of pharmaceuticals and consumer goods offers risk mitigation and near term revenue generating opportunity.

For an analyst ratings summary and ratings history on Flex Pharma click here. For more ratings news on Flex Pharma click here.

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