|Bid||12.33 x 1400|
|Ask||12.37 x 1100|
|Day's Range||12.21 - 12.41|
|52 Week Range||11.39 - 29.70|
|Beta (3Y Monthly)||0.93|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||29.00|
Retrophin stock collapsed to a three-year low Thursday after the biotech company's treatment for a rare nervous system disease failed in a Phase 3 test. The drug missed two key goals.
(Bloomberg) -- Retrophin Inc. shares plummeted as much as 32% in early trading on Thursday after an experimental therapy from the drugmaker missed the main and key secondary goals in a late-stage study. That may signal an opportunity to pick up shares, according to one analyst.“Selloff overdone, buy,” Nomura Instinet’s Christopher Marai advised clients as the stock tumbled below $12 a share. All the sell-side analysts tracked by Bloomberg rate the company the equivalent of a buy. Marai is among the most bullish with a Street high 12-month price target of $57.The biotech -- founded by Martin Shkreli, the jailed “pharma bro” who was convicted in 2017 for defrauding investors -- had its biggest intraday drop since February 2013. Fosmetpantotenate failed to work any better than placebo in a rare neurological disease known as pantothenate kinase-associated neurodegeneration or PKAN.“This program has not represented substantial valuation in RTRX shares, given its speculative nature,” Marai said. Retrophin has $10 a share in cash and with a base business of $180 million for 2019, data for another key drug -- sparsentan -- accounts for another $14 of Marai’s price target.Retrophin is studying sparsentan in two diseases linked to end-stage kidney disease. The company said in a statement that it was focused on advancing these programs. While U.S. and European regulators have granted sparsentan orphan drug status, those results are not expected until 2021.To contact the reporter on this story: Cristin Flanagan in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Morwenna ConiamFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Shares of Retrophin Inc. plunged 26% toward a 3 1/2-year low in premarket trading Thursday, after the biopharmaceutical company said a phase 3 trial of its treatment for pantothenate kinase-associated neurodegeneration failed to meet its primary and secondary endpoints. Pantothenate kinase-associated neurodegeneration (PKAN) is a rare, genetic and life-threatening neurological disorder. "We are very disappointed in the topline results from the FORT Study, particularly because we have seen the devastating impact of PKAN on patients and their families, and a significant unmet need remains with no approved treatment option," said Chief Executive Eric Dube. "We will work closely with the investigators to further analyze the results of the study and share them with the PKAN community to contribute to the growing knowledge of this rare disorder." The company said it remains focused on advancing its two phase 3 programs evaluation its treatment of focal segmental glomerulosclerosis (FSGS) and IgA nephropathy. The stock has lost 23.1% year to date through Wednesday, while the iShares Nasdaq Biotechnology ETF has gained 10.0% and the S&P 500 has advanced 16.7%.
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks hitting 52-week highs on Aug. 21) Apellis Pharmaceuticals Inc (NASDAQ: APLS ) Arrowhead ...
Retrophin Inc said on Thursday it was discontinuing the late-stage study for its rare neurological disorder treatment after it failed to improve patients' ability to conduct daily activities such as eating and walking, sending shares down 30%. The treatment, fosmetpantotenate, was being tested against placebo in 84 patients with pantothenate kinase-associated neurodegeneration (PKAN), a rare, genetic and life-threatening disorder. "We have realized that this is a failed study with no difference to placebo," Chief Executive Officer Eric Dube said.
Retrophin, Inc. (RTRX) today announced that the Phase 3 FORT Study evaluating the safety and efficacy of fosmetpantotenate compared to placebo in patients with pantothenate kinase-associated neurodegeneration (PKAN) did not meet its primary endpoint and did not demonstrate a difference between treatment groups. “We are very disappointed in the topline results from the FORT Study, particularly because we have seen the devastating impact of PKAN on patients and their families, and a significant unmet need remains with no approved treatment option.
Retrophin (RTRX) delivered earnings and revenue surprises of -48.72% and 4.79%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
SAN DIEGO, July 31, 2019 -- Retrophin, Inc. (NASDAQ: RTRX) today announced that Eric Dube, Ph.D., chief executive officer, will present at the Canaccord Genuity 39th Annual.
Retrophin (RTRX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
SAN DIEGO, July 23, 2019 -- Retrophin, Inc. (NASDAQ: RTRX) today announced it will report second quarter 2019 financial results on Tuesday, August 6, 2019 after the close of.
Biotech stocks headed south last week, reversing decent gains made in the previous week. Unfavorable FDA decisions, botched trials and weaker broader market sentiment all weighed down on the sector. Here ...
A lawyer for former pharmaceutical executive Martin Shkreli on Friday urged a federal appeals court to overturn Shkreli's criminal conviction for defrauding investors in hedge funds he founded. The lawyer, Mark Baker, argued that the jury that convicted Shkreli was given incorrect instructions about securities fraud. Baker faced a barrage of skeptical questions from a three-judge panel during a brief proceeding in the 2nd U.S. Circuit Court of Appeals in Manhattan.
How far off is Retrophin, Inc. (NASDAQ:RTRX) from its intrinsic value? Using the most recent financial data, we'll...
A Retrophin spokeswoman confirmed Thursday that the settlement covers Shkreli’s $30 million lawsuit from last month.