Busy week for the company as they presented at two investor conferences, and the company had coverage initiated by Aegis Capital with a buy rating and a $26.00 price target. The only new, or somewhat unexpected from the two conferences, was from the question answer session when asked about partnering their lead drug for Cystic Fibrosis CTP-656, and CEO Tung's response was that they have not fully committed to partnering the drug, but will proceed to continue to test the drug in clinical trials. The company believes that the drug may improve over Kalydeco with once daily dosage, and a better drug/drug interaction profile. A once daily oral potentiator (CTP-656), with a once daily corrector, could be the ideal patient therapy from a convenience and economical point of view. The company may be able to take CTP-656 on an expedited pathway, either 505(b)2 or other. Below is a weekly chart of CNCE.
Source: Shaw Investments, StockCharts.com
A good week for company presentations, and stock movement to the upside. September 22nd will be the day that an abstract will be presented at the UK Cystic Fibrosis Conference. The abstract will illustrate single dosage CTP-656, against placebo Kalydeco, from a safety, tolerability, and PK profile. The stock has reached an all-time closing high on good volume this week. Thank you for reading.
No comments:
Post a Comment