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Fly News Breaks for November 12, 2019
BTAI
Nov 12, 2019 | 08:03 EDT
SunTrust analyst Robyn Karnauskas initiated coverage of BioXcel Therapeutics with a Buy rating and $24 price target. The analyst cites the potential of the company's lead asset BXCL501 currently in development to treat acute agitation in neuropsychiatric diseases. Based on the large safety data set from other areas, IP protection to 2035, and positive phase 1 data, Karnauskas expects the phase 3 trial readout next year to be positive, modeling an uptake of 30%-35% and $1.7B in initial sales.