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Fly News Breaks for July 24, 2019
MRNS, SAGE
Jul 24, 2019 | 05:51 EDT
Piper Jaffray analyst Danielle Brill says Marinus Pharmaceuticals' (MRNS) failure of two Phase 2 studies in post-partum depression diminishes the competitive risk for Sage Therapeutics (SAGE). Marinus' setback is a net positive for Sage, as it is unlikely that ganaxolone will be a competitive threat "anytime soon," Brill tells investors in a research note. While ganaxolone is likely effective when administered as an IV, it appears that efficacy was compromised in an attempt to optimize convenience, adds the analyst. Following yesterday's data, Brill sees Sage's SAGE-217 as the only viable oral agent in its class. She maintains an Overweight rating on Sage Therapeutics with a $206 price target.