Both biopharmaceutical companies Relypsa Inc (NASDAQ:) and Pernix Therapeutics Holdings Inc (NASDAQ:) run into obstacles amidst preparing for the launch of their pipeline drugs. Analysts from Oppenheimer and Brean Capital share their expectations on the outcomes of both companies’ strategies.
Relypsa Inc
Veltassa, Relypsa’s prime hyperkalemia drug, is launching later than expected yet in line with other cardio-renal drugs’ progress. This delay combined with Relypsa’s 4Q15 results caused analyst Carlos Solorzano of Oppenheimer to reevaluate the company’s balance sheet for 2017-2019. The analyst reiterates a Buy rating and lowers his price target accordingly from $55 to $45.
Solorzano states, “Patients receiving a free starter supply in February were 812, up +99% m/m. February TRx (scripts covered by payors) were 350, up 254% m/m.” He continues, “Script numbers and growth are in line with other recent cardio- renal drug launches, including Corlanor and Praluent.” This demonstrated the potential growth awaiting the company, the analyst explains, “We still view RLYP as well positioned for growth given the safety, efficacy and blockbuster potential of Veltassa.” He finalizes, “We like the risk/reward profile of RLYP and think the shares will positively reflect the continued progress of the Veltassa launch as well as interest from potential acquirers.”
The remodelling of the coming...
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