$INNL - Janney now views Innocoll as 'extremely risky,' cuts to Neutral Janney Capital analyst Ken Trbovich downgraded Innocoll Holdings to Neutral from Buy after the FDA issued a refusal to file letter regarding the company's attempt to file a new drug application for Xaracoll. Innocoll's current cash resources are not adequate to fund the company through 2017, making the shares "extremely risky," Trbovich tells investors in a research note. He lowered his fair value estimate for the shares to $2. Innocoll in pre-market trading is down 50%, or 88c, to 89c.
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