Canaccord Genuity Maintains a 'Buy' on Optimer Pharmaceuticals (OPTR); Fidaxo Wins FDA Panel Support
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Price: $12.78 --0%
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 19
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 19
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Canaccord Genuity maintains a 'Buy' on Optimer Pharmaceuticals (NASDAQ: OPTR), PT $16.
Canaccord analyst says, "Following strong FDA panel endorsement of OPTR’s fidaxomicin NDA, we are buyers of shares ahead of an expected drug approval by the May 30 PDUFA date...In line with Street expectations, an FDA advisory panel voted positively on the safety and efficacy of fidaxo for treatment of C. diff. infection (CDI). The 13-0 vote was based on data from two Phase III trials comparing fidaxo vs. standard-of-care vancomycin that showed non-inferior cure rates and superior 30-day durability of cure in patients receiving fidaxo. With these encouraging proceedings expected to weigh heavily on the FDA’s upcoming decision, we put likelihood of approval likelihood at 85%."
"We model for modest adoption of fidaxo, mostly in vancomycin failures. We continue to see peak sales of $250M by 2016. Upside could come from favorable product labeling and rapid gain of doctor mindshare."
For more ratings news on Optimer Pharmaceuticals click here and for the rating history of Optimer Pharmaceuticals click here.
Shares of Optimer Pharmaceuticals closed at $13.80 yesterday.
Canaccord analyst says, "Following strong FDA panel endorsement of OPTR’s fidaxomicin NDA, we are buyers of shares ahead of an expected drug approval by the May 30 PDUFA date...In line with Street expectations, an FDA advisory panel voted positively on the safety and efficacy of fidaxo for treatment of C. diff. infection (CDI). The 13-0 vote was based on data from two Phase III trials comparing fidaxo vs. standard-of-care vancomycin that showed non-inferior cure rates and superior 30-day durability of cure in patients receiving fidaxo. With these encouraging proceedings expected to weigh heavily on the FDA’s upcoming decision, we put likelihood of approval likelihood at 85%."
"We model for modest adoption of fidaxo, mostly in vancomycin failures. We continue to see peak sales of $250M by 2016. Upside could come from favorable product labeling and rapid gain of doctor mindshare."
For more ratings news on Optimer Pharmaceuticals click here and for the rating history of Optimer Pharmaceuticals click here.
Shares of Optimer Pharmaceuticals closed at $13.80 yesterday.
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