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Fly News Breaks for October 16, 2019
RETA
Oct 16, 2019 | 07:11 EDT
Stifel analyst Adam Walsh increased his price target on Reata Pharmaceuticals to $210 from $135 after omaveloxolone in patients with Friedreich's ataxia hit the "FDA-blessed" primary endpoint of placebo-corrected mFARS in the MOXIe trial. He, and his key-opinion leader consultant, think omaveloxolone first-pass approval is likely based on the trial results reported, especially given the "benign" safety and tolerability, Walsh tells investors. Beyond omaveloxolone, he remains bullish ahead of Alport data due out this quarter, Walsh added.
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