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Biotech's Launch of Pain Product Shows Encouraging Early Metrics

Source: Streetwise Reports

 

May 14, 2018 (Investorideas.com Newswire) Francois Brisebois, an analyst with Laidlaw & Co., reviewed this firm's progress since commercially debuting its primary asset.


In a May 9 research note, analyst Francois Brisebois with Laidlaw & Co. reported that Flexion Therapeutics Inc. (FLXN:NASDAQ) announced its first full quarter's results, those of Q1/18, after its launch of Zilretta in November 2017.

Sales for the extended-release corticosteroid during the quarter totaled $2.2 million ($2.2M), compared to consensus of $2.7M. "We continue to consider 2018 a foundation year and aren't concerned with slight misses, especially in H1/18," wrote Brisebois. During the quarter, operating expenses were "much lower than anticipated."

Since Zilretta hit the market, Flexion "called on 8,500 of about 10,500 target prescribers in 3,700 target accounts," Brisebois noted. Roughly 40% have reordered, an "encouraging" metric.

Flexion's near-term clinical catalysts, Brisebois added, could support the launch. Specifically, in Q2/18, pharmacokinetic and safety data are due for the company's trial of Zilretta in bilateral knee osteoarthritis. In Q3/18, topline data should become available for the biotech's Phase 3 repeat dose study.

About the launch of Zilretta, Brisebois concluded that while it is still in an early stage, "we see many positive signs as a result of adequate preparations."

Laidlaw has a Buy rating and a $38 per share target price on Flexion, whose stock is now trading at around $25.78 per share.

Disclosure:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following company mentioned in this article is a billboard sponsor of Streetwise Reports: None. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article.

Disclosures from Laidlaw & Co., Flexion Therapeutics, Company Report, May 9, 2018

ANALYST CERTIFICATION The analyst responsible for the content of this report hereby certifies that the views expressed regarding the company or companies and their securities accurately represent his personal views and that no direct or indirect compensation is to be received by the analyst for any specific recommendation or views contained in this report. Neither the author of this report nor any member of his immediate family or household maintains a position in the securities mentioned in this report.

Laidlaw & Company has received compensation from the subject company for investment banking services in the past 12 months and expects to receive or intends to seek compensation for investment banking services from the company in the next three months.

As of the date of this report, neither the author of this report nor any member of his immediate family or household maintains an ownership position in the securities of the company (ies) mentioned in this report.

Associated persons of Laidlaw & Co (UK), Ltd not involved in the preparation of this report may have investments in securities/instruments or derivatives of securities/instruments of companies mentioned herein and may trade them in ways different from those discussed in this report. While Laidlaw & Co (UK), Ltd., prohibits analysts from receiving any compensation. Bonus or incentive based on specific recommendations for, or view of, a particular company, investors should be aware that any or all of the foregoing, among other things, may give rise to real or potential conflicts of interest.


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