RPTP 5.69…DD post in regards to upcoming catalysts for the company that could possibly move the stock higher. The company currently has a PFUDA date of April 30th 2013 for its orphan product PROCYSBI (RP-103) for the potential treatment of Nephropathic Cystinosis. In addition, their MAA is under review by the European Medicines Agency of which the Company expects a decision in the first half of 2013. The 52Wk trading range is 4.35-7.90. It is my opinion that the company stands a very good chance of approval.
Note: The original FDA date was set for January 30th but the FDA exercised its option to extend the PDUFA goal date to provide more time to complete the review. The three month extension is a standard extension period and the agency has not asked for additional studies. http://ir.raptorpharma.com/releasedetail.cfm?ReleaseID=728535
6 Month Chart
Key Statistics
Note: Cash, cash equivalents and short-term investments ("Cash") as of November 30, 2012 were approximately $35.5 million. As previously announced, on December 20, 2012, the Company signed a $50 million loan agreement with HealthCare Royalty Partners and received approximately $23.4 million, net of fees and commissions, from the first tranche and an additional $25 million (the "Second Tranche Loan") will be released upon U.S. Food and Drug Administration approval of PROCYSBI (RP-103). Management estimates that the Company's Cash as of December 31, 2012 of approximately $58 million (including the first tranche of cash received from the loan agreement) will fund the Company into the fourth quarter of calendar 2013. http://ir.raptorpharma.com/releasedetail.cfm?ReleaseID=728069
RP103- is Raptor's proprietary delayed release oral medication designed to potentially treat the underlying metabolic cause of Cystinosis. The company currently holds an exclusive, worldwide license from the University of California, San Diego for the development of RP103 for Nephropathic Cystinosis as well as other indications. Raptor has been granted orphan product designation for RP103 for the potential treatment of Nephropathic Cystinosis by the EMA and FDA and for the potential treatment of Huntington's Disease by the FDA.
Note: As stated above, Procysbi would be given every 12 hours as opposed to the 6 hour dosing for patients taking Cystagon. This IMO is a quality of life improvement since there is no nightly dosing which eases the burden of treating pediatric patients. In addition to the reduction in dosing the Repulsive Halitosis or rotten egg effect has been found to be reduced as well compared to the current treatment. This is also a improvement into the psychological effects as well. Please refer to the company slide below for further details on the Halitosis results.
Disclaimer: Opinions expressed in this post are just that. Opinions! I am not a licensed broker or financial advisor. Please do your own due diligence before buying or selling ANY SECURITY in the open market, there are no guarantees.
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