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Fly News Breaks for May 17, 2018
RARE
May 17, 2018 | 09:46 EDT
Piper Jaffray analyst Christopher Raymond says that while Crysvita is already labeled for pediatric patients both in the U.S. and Europe, this morning's Phase 3 data in pediatric X-linked hypophosphatemia patients "serve to solidify the commercial premise." . Some may quibble with the fact that secondary endpoints of growth velocity and six-minute walk test were not statistically significant, Raymond tells investors in a research note. He reminds investors, however, that statistically significant growth velocity improvement versus baseline was seen in Phase 2 and that the "age range of this study was 1-12 so a decent amount of patient variability here." The analyst keeps an Overweight rating on Ultragenyx with a $67 price target.
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