Fly News Breaks for February 7, 2020
Feb 7, 2020 | 12:20 EDT
Empire analyst Cathy Reese maintained a Buy rating and $66 price target on Zogenix shares after the company announced that Fintepla's Phase III trial in Lennox-Gastaut Syndrome achieved its primary endpoint of a statistically significant reduction in monthly drop seizures from baseline for Finepla's 0.7 mg/kg/day dose compared to placebo. Reese notes that the median for the lower dose did not reach statistical significance for monthly drop seizure reduction compared to placebo, but says that according to Zogenix management, this lower dose was included as an exploratory dose to determine the minimal effective dose, and was not a primary endpoint. The analyst notes that her $66 price target has been based solely on Fintepla approval for Dravet Syndrome.
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