Seelos Therapeutics Inc (SEEL)

[Aprilov]

Apricus approval could lead to Allergan takeover, says H.C. Wainwright H.C. Wainwright analyst Raghuram Selvaraju raised his price target for Apricus Biosciences (APRI) to $4.50 from $4.00 after the company filed the resubmission of a new drug application with the FDA for Vitaros, a topical cream formulation of alprostadil for the treatment of erectile dysfunction. The shares closed yesterday up 2c to $1.50. The resubmission is on time and "constitutes a major milestone for the company," Selvaraju tells investors in a research note. The analyst raised his probability of success for Vitaros to 80% from 70% and reiterates a Buy rating on Apricus. He believes that Allergan (AGN), which has an opt-in agreement for Vitaros, may choose to acquire Apricus if the topical cream secures U.S. approval.

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