Maxim Group Downgrades PainReform Ltd. (PRFX) to Hold

Maxim Group analyst Naz Rahman downgraded PainReform Ltd. (NASDAQ: PRFX) from Buy to Hold.

The analyst comments "Downgrading to Hold, from Buy. On 7/11/24, the FDA approved the first generic for Pacira’s (PCRX - NR) Exparel, (bupivacaine liposome suspension). Exparel is the market leader in the non-opioid post-operative pain analgesic category. Exparel generated ~$538M in 2023. Heron Therapeutics (HRTX - NR) also has a branded marketed therapy, Zynrelef, which generated $17.7M in 2023. PainReform’s PRF-110 development program is being developed to compete against these products with modest differentiators. The Phase 3 will evaluate pain relief over 72 hours, which is similar to Zynrelef and longer than Exparel’s 24 hours, but isn’t designed to evaluate opioid sparing for labeling purposes, which may be a differentiator commercially. If the trial was designed to measure opioid sparing, we believe the product may be more competitive in a market where a generic Exparel exists. Vertex (VRTX - Hold) may also enter the post-op pain market in 2025 with its oral therapy."

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

Shares of PainReform Ltd. closed at $0.74 yesterday.

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