Roth Slashes PT on TetraLogic (TLOG) to $1 as Two Studies Show Negative Results

Roth Capital reaffirms TetraLogic Pharmaceuticals (Nasdaq: TLOG) at Buy rating, but trims its price target from $5 to $1 following negative trial results announced Wednesday night.

Analyst Joseph Pantginis commented: The results from the MDS study are disappointing. Management has indicated that they will be enacting a restructuring, which will extend the cash runway two quarters into 4Q16. The focus now will be on seeking a partner for SHAPE and determining the next steps for birinapant in oncology (up in the air), which will also likely include a potential partner. The company will also explore additional SHAPE indications such as atopic dermatitis and alopecia areata through investigator sponsored studies. A key driver also includes the safety profile of topical SHAPE with lack of systemic exposure of the HDAC inhibitor. Regarding the birinapant opportunity in infectious diseases, the company is still waiting to hear from the Indian regulatory authority regarding the HepB study initiation approval.

For an analyst ratings summary and ratings history on Tetralogic Pharmaceuticals click here. For more ratings news on Tetralogic Pharmaceuticals click here.

You May Also Be Interested In

• Samvardhana Motherson International (MOTHERSO:IN) PT Raised to INR170 at JPMorgan
• JPMorgan Downgrades Indorama Ventures PCL (IVL:TB) to Neutral
• Morgan Stanley Upgrades Oil India Ltd. (OINL:IN) to Equalweight