Market Overview

La Jolla Meets ATHOS-3 Trial Endpoints, Dispels Market Controversy In The Process

Share:
La Jolla Meets ATHOS-3 Trial Endpoints, Dispels Market Controversy In The Process

Shares of La Jolla Pharmaceutical Company (NASDAQ: LJPC) were trading lower by more than 8 percent Monday morning after the company released Phase 3 results in the New England Journal of Medicine from a study called ATHOS-3, which evaluated the company's therapy LJPC-501 for the treatment of patients with catecholamine resistant hypotension (CRH).

While investors were not satisfied with the results, Chardan's Gbola Amusa maintains a Buy rating on La Jolla's stock with an unchanged $34 price target. The analyst, who also holds an MD, argued in a research report that LJPC-501 showed a statistically significant benefit on CV SOFA and dispelled a market controversy which was brought to the spotlight in late February in which it was uncertain if ATHOS-3 topline data showed a statistical significance.

'Clear Positive'

The analyst wrote:

    "Newly disclosed in the NEJM publication was a benefit shown for LJPC-501 on CV SOFA, the hierarchically first secondary endpoint in ATHOS-3, namely: 'At 48 hours, the mean improvement in the [CV SOFA] score (scores range from 0 to 4, with higher scores indicating more severe dysfunction) was greater in the [LJPC-501] group than in the placebo group (-1.75 vs. -1.28, P=0.01).'"

Given the results, Amusa believes the results "show synergy in using these vasoactive substances together, thereby permitting lower doses of each to limit established toxicities for catecholamines and vasopressin."

With that said, the analyst believes the ATHOS-3 publication is a "clear positive" and supports his bullish thesis on the stock, which remains a top pick for 2017.

Related Links:

Here's What Makes La Jolla Pharma A 2017 Top Pick At Chardan

22 Stocks Moving In Monday's Pre-Market Session

Latest Ratings for LJPC

DateFirmActionFromTo
Nov 2019H.C. WainwrightDowngradesBuyNeutral
Nov 2019SunTrust Robinson HumphreyDowngradesBuyHold
Jan 2019JP MorganUpgradesUnderweightNeutral

View More Analyst Ratings for LJPC
View the Latest Analyst Ratings

 

Related Articles (LJPC)

View Comments and Join the Discussion!

Posted-In: Analyst Color Biotech Long Ideas News Health Care Reiteration Analyst Ratings Movers Best of Benzinga

Latest Ratings

StockFirmActionPT
WPMScotiaBankMaintains55.0
NPIScotiaBankMaintains39.0
MRUScotiaBankMaintains66.0
LUGScotiaBankUpgrades14.0
JWELScotiaBankMaintains37.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com