Adamas patient deaths 'may not be cause for alarm,' says H.C. Wainwright
News emerged yesterday that three deaths had occurred during the month of June among patients treated with Adamas Pharmaceuticals' Gocovri, according to data captured by the FDA's Adverse Events Reporting System database, H.C. Wainwright analyst Raghuram Selvaraju tells investors in a research note. The analyst says that while he can't rule out the possibility that these deaths were due to the drug, he notes that the FDA itself acknowledges the fact that, while the FAERS database is aimed at collecting adverse event reporting on as many drugs as possible, the occurrence of adverse events in patients taking a particular drug does not mean that the drug actually caused the adverse event in question. Deaths among Gocovri patients "may not be cause for alarm," the analyst contends. Selvaraju believes investors are perhaps "being too quick to draw a link" between adverse event reporting on Nuplazid and patient deaths on Gocovri. The analyst reiterates a Buy rating on Adamas Pharmaceuticals with a $45 price target.