Leerink Partners Remains Bullish on Amicus Therapeutics (FOLD) Following Announced Scioderm Acquisition
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Leerink Partners reiterated an Outperform rating on Amicus Therapeutics (NASDAQ: FOLD) following the announced acquisition of Scioderm. Scioderm is a private company developing Zorblisa (SD-101), its lead product for epidermolysis bullosa that is currently enrolling for Phase 3 trial. Data readout is expected by 1H16. This acquisition adds an advanced pipeline candidate to FOLD with potential label expansion.
Analyst Joseph Schwartz commented, "This morning FOLD announced the acquisition of Scioderm, a private company developing Zorblisa (SD-101), its lead product for epidermolysis bullosa (EB). Product is currently enrolling for Ph. III trial and data readout is expected by 1H16. More importantly, acquisition of this developmental asset adds an advanced pipeline candidate to FOLD with potential label expansion in other dermatological indication(s). The agreed-upon transaction is financed through both cash payments and stock issuance. Mgmt. expects the completion of this transaction in 3Q15. Our estimates are currently under review. Reiterate OP on FOLD."
For an analyst ratings summary and ratings history on Amicus Therapeutics click here. For more ratings news on Amicus Therapeutics click here.
Shares of Amicus Therapeutics closed at $14.87 yesterday.
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