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Fly News Breaks for April 20, 2017
LJPC
Apr 20, 2017 | 07:48 EDT
After speaking with La Jolla's management, SunTrust analyst Yatin Suneja continues to expect the company's LJPC-501 drug "to be approved and become the standard of care in last-line catecholamine-resistant hypotension." The analyst says that the company continues to expect to file for approval of the drug in 2H17. Suneja reports that the company expects to use one primary endpoint - "percentage of patients achieving a mean arterial pressure greater than or equal to75mmHg or a 10mmHg increase from baseline MAP at 3 hours - suggested by the FDA for its Phase 3 trial. Suneja updated the estimates on the company to reflect its follow-on offering and opex adjustments. He keeps a $57 price target and a Buy rating on the shares.
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