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Fly News Breaks for February 6, 2019
ZGNX
Feb 6, 2019 | 13:29 EDT
Piper Jaffray analyst Danielle Brill expects FDA approval of Zogenix's Dravet syndrome treatment Fintepla by early December given the drug's Breakthrough Therapy Designation status. Should an FDA Advisory Committee panel be required, the analyst expects notification by early September. She believes lingering safety concerns continue to be an overhang on Zogenix shares, and sees upside for the stock if no panel is required or upon a positive panel vote. Considering consistent feedback from experts on Fintelpa's "impressive" efficacy, and the debilitating nature of Dravet syndrome, the drug's benefits clearly outweigh the theoretical cardiac risks, Brill tells investors in a research note after Zogenix submitted its new drug application. The analyst is confident that Fintepla will be approved and reiterates an Overweight rating on Zogenix with a $72 price target.
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