Fly News Breaks for October 7, 2019
Oct 7, 2019 | 08:36 EDT
JMP Securities analyst Donald Ellis initiated Sorrento Therapeutics with an Outperform rating and a price target of $21. The analyst cites the company's "attractive asset" Resiniferatoxin being ready for Phase 2/3 trials, which is targeting a multi-million patient markets in non-opioid pain therapy. Ellis also points to Sorrento seeking an FDA "breakthrough designation" for total knee arthroplasty deferment which, if granted, will initiate registration trials in Q1 of next year.
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