H.C. Wainwright analyst Joseph Pantginis said that Sophiris Bio agreed with the FDA regarding the design of a single Phase 3 study with topsalysin in intermediate risk localized prostate cancer "reminiscient of the one already agreed upon with the EMA," which he calls "a key accomplishment" that removes a key overhang for the company. The analyst, who thinks topsalysin could be a valuable asset as it could delay or even prevent the need for more aggressive treatments, keeps a Buy rating on Sophiris shares but lowered his price target to $2.75 from $3.50 given the negative impact of its equity raise and adjusting his projected launch year for topsalysin to 2025 from 2023.