|Over a week ago|
Novus Therapeutics board approved a reduction in force, sees one-time charge » 16:2006/1706/17/20
On June 11, following the…
On June 11, following the prior announcement of topline results of the Phase 2a Clinical Trial of OP0201 in Acute Otitis Media, the board of directors of Novus Therapeutics approved a reduction in force. The company estimates that it will incur expenses of approximately $0.7M related to this reduction, $0.3M of which will be incurred in the second calendar quarter of 2020 and will consist of one-time termination benefits to the affected employees, including retention payments and payments for accrued vacation time.
|Over a month ago|
Fly Intel: Top five analyst downgrades » 10:0706/0206/02/20
LULU, CBOE, CGNX, EVH, NVUS
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Lululemon (LULU) downgraded to Equal Weight from Overweight at Wells Fargo with analyst Ike Boruchow saying he sees a balanced risk/reward profile following the recent rally in the shares. 2. Cboe Global Markets (CBOE) downgraded to Neutral from Overweight at JPMorgan with analyst Kenneth Worthington saying trading volumes and open interest "as a leading indicator remain tepid." 3. Cognex (CGNX) downgraded to Underperform from Neutral at Baird with analyst Richard Eastman saying his price target represents a generous trough multiple and he believes it is generous across the Street for an attractive but cyclical-growth technology company. 4. Evolent Health (EVH) downgraded to Neutral from Overweight at Cantor Fitzgerald with analyst Steven Halper citing the company's announcement on Friday that Passport was not successful in its Kentucky Medicaid rebid. 5. Novus Therapeutics (NVUS) downgraded to Neutral from Buy at Ladenburg with analyst Michael Higgens saying while the first exploratory trial with OP0201 met the safety endpoint, OP0201 just missed statistical significance on the 12-to-14 day endpoint while only numerically superior on the 4-to-6 day endpoint. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Novus Therapeutics downgraded to Neutral with 60c target at Ladenburg » 06:5006/0206/02/20
Ladenburg Thalmann analyst Michael Higgens downgraded Novus Therapeutics to Neutral from Buy with a price target of 60c, down from $2.50. While the first exploratory trial with OP0201 met the safety endpoint, OP0201 just missed statistical significance on the 12-to-14 day endpoint while only numerically superior on the 4-to-6 day endpoint, Higgens tells investors in a research note. The analyst believes Novus will continue to seek further development of OP0201, but he expects the company will need to secure a partner and/or non-dilutive funding to continue its development with another Phase 2.
Novus Therapeutics downgraded to Neutral from Buy at Ladenburg » 06:4406/0206/02/20
Ladenburg analyst Michael…
Ladenburg analyst Michael Higgens downgraded Novus Therapeutics to Neutral from Buy with a price target of $.60, down from $2.50.
Novus Therapeutics announces OP0201 trial results, engages financial advisor » 09:0706/0106/01/20
Novus Therapeutics announced topline results from the company's exploratory phase 2a clinical trial of OP0201 in acute otitis media. Study C-006 was a phase 2a, single center, double-blind, randomized, placebo-controlled, parallel group clinical trial to assess the safety, tolerability, and efficacy of 20 mg per day intranasal OP0201 as an adjunct therapy to oral antibiotic in the treatment of acute otitis media in infants and children six to 24 months of age. Subjects were treated twice-daily for 10 days and followed up to one month. Post-randomization visits occurred between days 4-6, days 12-14 and days 28-30. The primary efficacy endpoints included resolution of bulging tympanic membrane at visit 2 and resolution of middle ear effusion at visit 3. The company also today announced that the Board of Directors has initiated a process to explore strategic options intended to maximize shareholder value. The company has engaged financial advisors to assist in the review and evaluation of strategic options. Such options may result in a financing to continue development of the surfactant-based nasal aerosol, a company sale, merger, asset sale, in-license, out-license, or other business transaction. There can be no assurance that the exploration of strategic options will result in the company entering or completing any transaction. Novus does not intend to make any further disclosures regarding this process unless and until a specific course of action is approved by the board.
Novus Therapeutics trading resumes 09:0006/0106/01/20
Novus Therapeutics trading halted, news pending 08:2506/0106/01/20
Novus Therapeutics reports Q1 EPS (47c), consensus (16c) » 06:3405/1505/15/20
The company had $11.8M in…
The company had $11.8M in cash and cash equivalents as of March 31. "During the quarter, we accomplished two key objectives of extending our cash runway and completing enrollment of study C-006, our exploratory phase 2a clinical trial of OP0201 in infants and children with acute otitis media," said Gregory Flesher, CEO of Novus Therapeutics. "We now have cash through year-end 2020 and all patients have subsequently completed the trial. We look forward to sharing the topline result of study C-006 in the coming weeks," concluded Flesher.
|Over a quarter ago|
Novus Therapeutics files to sell 7.24M shares of common stock for holders 16:1003/2503/25/20
Novus Therapeutics completes enrollment of Phase 2a trial of OP0201 » 06:4103/0203/02/20
Novus Therapeutics announced that it has completed enrollment of the phase 2a trial of OP0201 in pediatric patients with acute otitis media. The company enrolled a total of 103 patients into the clinical trial and expects to report data by early June.