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Fly News Breaks for February 7, 2020
ZGNX
Feb 7, 2020 | 09:18 EDT
Guggenheim analyst Yatin Suneja noted that in the Phase 3 study of Fintepla in Lennox-Gastaut syndrome the high dose met the primary endpoint of reduction in drop seizures, but the low dose did not, and overall efficacy data were less compelling and below investor expectations. While this Phase 3 study is sufficient to gain approval in LGS despite the "underwhelming" data, the uptake is likely to be muted compared to her prior expectations if the drug is approved, Suneja tells investors. Based on the results of this study, Suneja is lowering peak sales estimates for Fintepla in LGS and refractory epilepsies, though not changing any of our estimates related to Fintepla in Dravet syndrome. The changes lower the analyst's price target to $55 from $78, but Suneja keeps a Buy rating on Zogenix shares.
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