Vista Partners Updates Coverage on Ohr Pharmaceutical, Inc.; Raises Price Target to $14.00
Eye Drop in Phase 2 Clinical Testing for Treatment of Wet-AMD
(firmenpresse) - SAN FRANCISCO, CA -- (Marketwired) -- 07/31/13 -- announced today that it has updated coverage on (NASDAQ: OHRP) ("The Company" or "OHR") and raised its twelve month price target of from $10.50 to $14.00. Ross Silver, Principal Analyst at Vista Partners, stated, "OHR is focused on developing Squalamine Eye Drops, in a Phase 2 trial, for the treatment of the wet form of age-related macular degeneration (Wet-AMD). Therapies for Wet-AMD such as ranibizumab (Lucentis®) sold by (acquired by Roche), as well as aflibercept (Eylea®) intravitreal injections, have become the market leaders in treating Wet-AMD and both therapies combined garnered approximately $5B of revenues in 2012. OHR's Wet-AMD clinical candidate Squalamine eye drops would seem to present a significant advantage relative to the aforementioned therapies considering the delivery method which is self-administered eye drops. Both Lucentis® and Eylea® require an injection into the back of the eye. The Squalamine Eye Drop program has the potential to create a monumental shift in the way patients are treated for Wet-AMD." Mr. Silver concludes, "OHR recently completed an up-listing to the Nasdaq, added two prestigious Board members including , the former President of Global Pharmaceuticals for and strengthened its balance sheet, which according to the Company, gives them a cash runway into 2015."
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About Vista Partners:
Vista Partners LLC, founded in 2005, is a Registered Investment Advisor in the States of California and Oregon. The firm's professional staff has backgrounds in finance, corporate communications and investment banking. Vista Partners LLC has built a name for itself in the small cap space due to its selection of .
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Datum: 31.07.2013 - 13:15 Uhr
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News-ID 283432
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Biotech
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