Needham & Company Maintains a 'Hold' on NuPathe (PATH); Continues Marching Forward
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Price: $16.01 -4.02%
Rating Summary:
8 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on NuPathe (NASDAQ: PATH).
Analyst, Elliot Wilbur, said, "PATH continues to march forward in its quest to resubmit the NDA for NP-101, its patch formulation of sumatriptan for treatment of migraine. Since receipt of the FDA complete response letter (CRL) in August, the company has completed several technical enhancements to the device and its associated packaging, as well as assembled additional supportive data to address issues around uniformity of dosage and product storage. While the company has multiple check boxes still left to complete, we note that all key puzzle pieces appear to have been solved, suggesting the story now turns to execution of remaining clinical development plan. We continue to believe issues raised in the initial CRL are “fixable” and that ultimately NP-101 will be approved, though given continued possibility of extended timelines and imminent need for additional financing, we expect the recent surge in shares to subside, and given continued regulatory and financing uncertainty, we maintain our neutral stance on the name."
Needham raises FY12 loss from (1.68) to (1.48) and FY13 from (3.12) to (2.39)
For an analyst ratings summary and ratings history on NuPathe click here. For more ratings news on NuPathe click here.
Shares of NuPathe closed at $4.01 yesterday.
Analyst, Elliot Wilbur, said, "PATH continues to march forward in its quest to resubmit the NDA for NP-101, its patch formulation of sumatriptan for treatment of migraine. Since receipt of the FDA complete response letter (CRL) in August, the company has completed several technical enhancements to the device and its associated packaging, as well as assembled additional supportive data to address issues around uniformity of dosage and product storage. While the company has multiple check boxes still left to complete, we note that all key puzzle pieces appear to have been solved, suggesting the story now turns to execution of remaining clinical development plan. We continue to believe issues raised in the initial CRL are “fixable” and that ultimately NP-101 will be approved, though given continued possibility of extended timelines and imminent need for additional financing, we expect the recent surge in shares to subside, and given continued regulatory and financing uncertainty, we maintain our neutral stance on the name."
Needham raises FY12 loss from (1.68) to (1.48) and FY13 from (3.12) to (2.39)
For an analyst ratings summary and ratings history on NuPathe click here. For more ratings news on NuPathe click here.
Shares of NuPathe closed at $4.01 yesterday.
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