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Fly News Breaks for January 13, 2020
AQST
Jan 13, 2020 | 08:42 EDT
Aquestive Therapeutics yesterday announced it had received a response from FDA to a Citizen's Petition it filed in November 2019, seeking to stay the approval of Neurelis' Valtoco, a diazepam nasal spray, Lake Street analyst Thomas Flaten tells investors in a research note. The company's request was denied by FDA and the agency approved Valtoco and granted the product orphan drug exclusivity for seizure clusters. While Valtoco has been in the background, the actual approval "clarifies the dynamic and may put Libervant at heightened risk," says the analyst. He believes the news could put overhang on Aquestive shares. However, Flaten keeps a Buy rating on the name with a $10 price target.
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