It needs lots of cash to get something out. All the drugs are preclinical or phase 1. With interest rate raising and need for cash sometime next year we are not going to see sunrise for some time. Buy GILD much safer.
Street Watchdog Research initiated coverage on Sophiris Bio (NASDAQ: SPHS) with a Buy rating and $7.50 price target. Link
From the report: "Our due diligence suggests that Sophiris has more than enough financial resources to fund operations with no additional share issuances through its next Phase III trial.
Given the substantial size of the benign prostatic hyperplasia (BPH or enlarged prostate) market, we estimate peak sales over $700 million. We believe the company will achieve a favorable outcome in its 2nd Phase III trial, which we expect to have a reduced trial completion time. As such, we are buyers of Sophiris."
Euro Pacific Canada has upgraded Sophiris Bio (NASDAQ:SPHS) to “buy” from “hold” and raised its price target to $6 from $1 after the company reported positive one-year efficacy data from a Phase 3 study of PRX-302 in benign prostatic hyperplasia (BPH).
buy3Shares of Sophiris closed at $2.90 on Tuesday after jumping $2.04 on the news.
Analyst Doug Loe writes that not only was the study a positive data point, “but particularly so when considering the multiple Phase 3 failures experienced by Sophiris’ BPH drug development peers in recent years, making the achievement of generating a positive Phase 3 efficacy signal in this difficult-to-treat medical market even more compelling.”
The key takeaway is that “we have heightened confidence in PRX-302’s approvability in the difficult-to-treat BPH market,” he added.
Mr. Loe also said the long-term efficacy in the PLUS-1 study from only a single intra-prostatic injection at enrollment is hugely positive for PRX-302’s medical and commercial prospects.