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Fly News Breaks for August 2, 2017
PTLA
Aug 2, 2017 | 06:03 EDT
Citi analyst Yigal Nochomovi says he confirmed with Portola Pharmaceuticals management that the company will re-submit this week a Biologics License Application for AndexXa. The slight delay has nothing to do with any outstanding laboratory work or assay validation, the analyst tells investors. The delay relative to prior guidance of July is "obviously immaterial to timelines and to the long-term commercial opportunity set for AndexXa, on which we are very bullish," Nochomovi writes. He has a Buy rating on Portola shares with a $78 price target.
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