April 11, 2013 by Jennifer Poland · Leave a Comment
Janney Capital Markets has initiated coverage of BioDelivery Sciences International (NASDAQ:BDSI) with a “buy” rating and a $10 fair value estimate. The stock closed at $4.47 yesterday.
“Well capitalized and on the cusp of turning from a drug development story into a drug launches story, we believe BDSI is at an inflection point,” writes analyst Jim Molloy.
BioDelivery is focused on the development and commercialization of pain and addiction management therapies by utilizing its novel and proprietary BioErodible MucoAdhesive (BEMA) drug delivery technology. Both current product candidates use the opioid Buprenorphine administered via a small patch that adheres to the inside of the mouth with the drug being absorbed through the cheek.
Mr. Molly said that BEMA Buprenorphine/Naloxone (Bunavail) is being developed for the treatment of opioid dependence and he believes it could be a $100 million product in 2015.
“BDSI’s second compound is BEMA Buprenorphine for moderate to severe chronic pain partnered with one of the seminal names in pain medicine, Endo Health Solutions (NASDAQ: ENDP), and is in two phase 3 trials with data expected year end 2013′” he added.