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Fly News Breaks for December 16, 2019
Dec 16, 2019 | 10:35 EDT
Canaccord analyst Sumant Kulkarni reiterated a Buy rating and $18 price target on Zynerba after hosting an investor event with the company's New Zealand principal investigator in the BELIEVE 1 study for Zygel for developmental and epileptic encephalopathies. In a research note to investors, Kulkarni says he came away from the event with greater confidence in his view that the Phase 2 data Zynerba announced in September were "misunderstood, especially on safety." Specifically, Kulkarni says Dr. Lynette Sadleir believes Zygel was very well tolerated and that adverse events are "common and expected." If successfully developed, the analyst believes Zygel has a clear place as a DEE treatment.
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