Needham & Company Maintains a 'Buy' on Chelsea Therapeutics (CHTP); Overall Undervalued
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Price: $6.52 --0%
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Chelsea Therapeutics (NASDAQ: CHTP).
Needham analyst says, "Chelsea is expected to submit an NDA for Northera in Neurogenic Orthostatic Hypotension in the near future. We expect a 6 month review, with a regulatory decision in March 2012. An FDA Advisory Committee meeting is likely. Data from Phase 3 trials are consistent with an active drug, both with respect to short-term effects on NOH symptoms and impact on patient falls. However, trial design around symptomatic endpoints has been a challenge and we believe there are moderate regulatory risks with this first submission and until results from Study 306b are announced in 2Q12. The primary endpoint for Study 306b is falls/patient/week, unlike previous trials, which were focused exclusively on NOH symptoms. Overall, we believe the stock is overall undervalued (EV $200MM)."
For more ratings news on Chelsea Therapeutics click here and for the rating history of Chelsea Therapeutics click here.
Shares of Chelsea Therapeutics closed at $4.24 yesterday.
Needham analyst says, "Chelsea is expected to submit an NDA for Northera in Neurogenic Orthostatic Hypotension in the near future. We expect a 6 month review, with a regulatory decision in March 2012. An FDA Advisory Committee meeting is likely. Data from Phase 3 trials are consistent with an active drug, both with respect to short-term effects on NOH symptoms and impact on patient falls. However, trial design around symptomatic endpoints has been a challenge and we believe there are moderate regulatory risks with this first submission and until results from Study 306b are announced in 2Q12. The primary endpoint for Study 306b is falls/patient/week, unlike previous trials, which were focused exclusively on NOH symptoms. Overall, we believe the stock is overall undervalued (EV $200MM)."
For more ratings news on Chelsea Therapeutics click here and for the rating history of Chelsea Therapeutics click here.
Shares of Chelsea Therapeutics closed at $4.24 yesterday.
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