Patent extension by 7 years to 2034! That is HUGE alone.
Leerink raised their price target to $11 from $8, while maintaining an "outperform" rating. The firm said their specialists' opinions of Contrave improved significantly following Tuesday's data.
Similarly, analysts at Piper Jaffray raised their price target yesterday to $26 from $16, and Bank of America/Merrill Lynch upped its price target to $13 from $10.
JPM says price target is now $26
The EU is looking to approve the drug any day and could sign partner like Takeda in US.
Interview here suggest the FDA can do nothing but be disappointed and downplay the results. The second study was already planned. It will just confirm what we now know to be true.
Orexigen soars on drug data
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ready for breakout tomorrow. Possible news Wednesday at conf. Last time this news hit it ran to 17.00
NEW YORK (TheStreet) -- Shares of drug developer NephroGenex (NRX) skyrocketed more than 285% to a 52-week high of $17.98 on Wednesday after the company announced it found its lead drug to be safe in a cardiac safety study.
The company is evaluating the drug pyridorin in a late-stage trial in patients with diabetic nephropathy, a chronic and degenerative kidney disease caused by diabetes and often tied to heart disease.
NephroGenex said it has noted cardiac safety concerns with other therapies currently in development.
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Pyridorin attempts to work on the underlying cause of diabetic nephropathy, which affects approximately 6 million Americans, in order to slow its progression.
More than 12.8 million shares had changed hands as of 11:26 a.m., which dwarfed the daily average volume of 12,733.
US alone. They will need to know hormone status for treatment. HUGE BREAKTHROUGH for all in this to forgo the painful biopsy.
Going to 10.00 or 13.50