Posted On: 07/01/2014 2:31:11 PM
Post# of 777
FOLD: Leerink Upgrades Amicus Therapeutics Ahead of Trial Data 7/1/14
Leerink upgrades Amicus Therapeutics (FOLD) to outperform, citing increased confidence that FOLD's migalastat treatment for Fabry disease will win favor with regulators in Europe and the U.S. The new rating is a bet on a reversal of fortune for the treatment, which until recently has endured setbacks. Last November, GlaxoSmithKline (GSK) returned global commercialization and development rights of the drug to FOLD. Leerink thinks top-line data from FOLD's Study 012, due out in 3Q, have a good chance to back up positive data from Study 011 announced in April. It rates chances for approval at 75% and 50% in Europe and the U.S., respectively, up from 20% previously in each jurisdiction. FOLD up 14% at $3.81.
Leerink upgrades Amicus Therapeutics (FOLD) to outperform, citing increased confidence that FOLD's migalastat treatment for Fabry disease will win favor with regulators in Europe and the U.S. The new rating is a bet on a reversal of fortune for the treatment, which until recently has endured setbacks. Last November, GlaxoSmithKline (GSK) returned global commercialization and development rights of the drug to FOLD. Leerink thinks top-line data from FOLD's Study 012, due out in 3Q, have a good chance to back up positive data from Study 011 announced in April. It rates chances for approval at 75% and 50% in Europe and the U.S., respectively, up from 20% previously in each jurisdiction. FOLD up 14% at $3.81.
(0)
(0)
