Biotie Therapies Corp - An option in epilepsy

Friday, Jun 07 2013 by

Jun 07th 2013 - Edison Investment Research today published a report on Biotie Therapies Corp entitled "An Option In Epilepsy". In summary, the report says:

Biotie’s portfolio review has landed its first target, with a $1m option deal to acquire Neurelis for its intranasal diazepam to treat acute epileptic seizures. We view the $1m cash upfront, $8.75m exercise price (in Biotie shares) and cost of development as relatively modest for a new product opportunity with $100m peak sales for the reference product. Meanwhile, Biotie’s tozadenant is now the leading A2a antagonist in development for Parkinson’s disease, following the failure of Merck & Co’s preladenant in Phase III studies. Both developments are potentially positive for Biotie in the long run, although we maintain our €231m (€0.51 per share) valuation.




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