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Fly News Breaks for March 14, 2019
KALA
Mar 14, 2019 | 08:51 EDT
Jefferies analyst Biren Amin initiated coverage of Kala Pharmaceuticals with a Buy rating and $15 price target. The company has reformulated loteprednol, an ocular steroid, with mucus-penetrating particles to provide superior penetration versus traditional steroid eye drops, Amin tells investors in a research note. It lead asset Inveltys is launching for use in post-operation surgeries and investors assume a slow launch for a product that could generate $150M in peak sales, the analyst adds. Further, he believes KPI-121 0.25% provides a "second and more meaningful catalyst" with Stride 3 pivotal data in dry eye at year-end 2019.
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