UPDATE: JPMorgan Downgrades ObsEva (OBSV) to Underweight on Continued Cash Woes into PRIMROSE Update

(updating comment)

JPMorgan analyst Eric Joseph downgraded ObsEva (NASDAQ: OBSV) from Neutral to Underweight.

The analyst comments "We rate OBSV shares Underweight. In view of 6- to 12-month BMD results from the PRIMROSE pivotal program for lead candidate linzagolix in the treatment of uterine fibroids, we carry low expectations for meaningfully durable label indication for the 100mg non-add back treatment regimen, and see little to no differentiation for the high dose + ABT arm within broader oral GnRH landscape. Taken together with limited visibility on EDELWEISS readouts and a potential cash overhang (runway inside 6 to 9 months), we see OBSV shares continuing under pressure over the near- to mid-term."

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

Shares of ObsEva closed at $2.13 yesterday.

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