Information Provided By:
Fly News Breaks for July 15, 2019
ETON, BHC
Jul 15, 2019 | 07:49 EDT
After Eton Pharmaceuticals (ETON) announced on Friday night that partner Bausch Health (BHC) received a Complete Response Letter related to the application for EM-100, an investigational treatment of itchy eyes that Bausch acquired the rights for in February of this year, Wells Fargo analyst David Maris noted that Bausch has not issued a press release or an update related to this CRL and that he has not yet heard back from the company after having reached out for comment. This setback is likely to push the timeline back and any contribution that might have been in 2019 guidance will have to come out, said Maris, who noted that the deal and the potential product "appear to be small." Maris maintains an Underperform rating on Bausch Health shares.