Dive Brief: NeuroDerm CEO OdedLieberman described the preliminary Phase 2 results as "extremely encouraging,"demonstrating ND0612s potential to make a meaningful difference in the lives of Parkinsons patients. More than 1 million Americans live with the disease. Some analysts agreed. Cowen raised its price target on NeuroDerm to $70, up from $38, asserting that the results could transform care for late-stage Parkinsons patients. Analyst Ken Cacciatore described initial feedback as very positive. "In general, our consultants believe the efficacy looks comparable to [AbbVies] Duodopa [approved by the Food and Drug Administration in 2015], but with a significantly improved use and safety profile. These data substantially de-risk the program. The current valuation is dramatically understated,"he said. Investors are showing increasing interest in the company. In fourth-quarter 2016, Opaleye Management was among a number of hedge funds and other institutional investors boosting their stakes in NeuroDerm. NeuroDerms modified strategy in the EU, in addition to supporting a broader label, should "increase the clinical and commercial potential of ND0612 while not affecting our clinical timelines,"Lieberman said. The CEO emphasized that the pharma aims to achieve its clinical and regulatory objectives as quickly as possible so as to offer a safer and more effective alternative … Continue reading
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