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Fly News Breaks for February 10, 2020
Feb 10, 2020 | 06:46 EDT
Mizuho analyst Difei Yang raised her price target for Zogenix to $71 from $65 after the company reported data from the Phase 3 clinical trial of Fintepla for the treatment of Lennox Gastaut syndrome, its second indication. The primary endpoint was met, showing a statistically significant result versus placebo with effect size roughly similar to GW Pharmaceuticals's (GWPH) Epidiolex, explains the analyst. She believes the Lennox Gastaut indication based on the Phase 3 results is approvable by the FDA. While secondary endpoints look somewhat inferior to Epidiolex, the drug should gain modest market penetration in Lennox Gastaut given the high unmet medical need, and need for new mechanisms of action, argues Yang. She keeps a Buy rating on Zogenix shares.
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