Biotech Values

[Titan V]

I opened a position in PRTO today.

JMP Securities analyst Jason Butler upgraded Proteon Therapeutics (NASDAQ: PRTO) from Market Perform to Market Outperform with a price target of $9.00.

The analyst comments..."Results are expected next month from the Phase 3 PATENCY-2 trial for the use of vonapanitase in dialysis vascular access. This is the second Phase 3 trial evaluating vonapanitase in this indication, and we think the trial design, including sample size and endpoints, optimizes the likelihood of positive results. We believe the first Phase 3 trial demonstrated robust benefit with vonapanitase, despite the primary endpoint not being met, and importantly, the co-primary endpoints of PATENCY-2 are identical to the endpoints that were successful in PATENCY-1, with higher power, and the inclusion/exclusion criteria are likewise identical. We believe there is clear agreement with the FDA that positive results from PATENCY-2 can support BLA approval, and we expect submission in 2H19. We view the market opportunity for the product candidate as $1B+, and see the commercial effort as one that can be maximized by Proteon on a standalone basis."

https://www.streetinsider.com/dr/news.php?id=15103232