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Fly News Breaks for June 5, 2015
PTN
Jun 5, 2015 | 08:44 EDT
Canaccord raised its price target on Palatin Tech to $6 from $4 following the FDA Advisory Committee approving Sprout Pharmaceuticals' Flibanserin with safety reservations. The firm sees a positive read through for Palatin, as the approval will lift the regulatory risk for that class of drugs. The firm also noted that the secondary endpoints for Flibanserin are the same endpoints measured in Palatin's bremalanotide study. Canaccord reiterated its Buy rating on Palatin Tech shares.
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