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Fly News Breaks for September 9, 2015
FLXN
Sep 9, 2015 | 09:23 EDT
After Flexion's FX006 drug missed the primary week-12 endpoint in a study, RBC Capital notes that the drug did show superiority in week 11 and week 13. As a result, the firm thinks the week 12 miss could be "a statistical anomaly." RBC says that the company believes that the overall data will convince the FDA to approve the drug. RBC continues to expect the company to submit the drug for approval in 2H16 and continues to estimate that the drug will have peak sales of $1.05B. It believes that weakness in the stock should create a buying opportunity.
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