Stifel GMP sees significant uncertainty for Reunion Neuroscience over lawsuit

Mindset pharma

15/03/2023 11:39

** Stifel GMP downgrades Reunion Neuroscience  REUN.TO  to
"hold" from "speculative buy"; trims PT to C$1 from C$5.50
    ** Brokerage says REUN's lawsuit against Mindset Pharma
 MSET.CD  is a significant hurdle to raise the additional
capital necessary to further develop RE104 and brings about
uncertainty into the viability of the treatment
    ** On Tuesday, REUN said it had filed a lawsuit against MSET
alleging that "MSET knowingly copied RE104 and misleadingly
presented it as its own invention when applying for a patent";
MSET said it disagrees with and denies the allegations
    ** RE104 is a certain psychedelic compound being developed
as a potential treatment for postpartum depression
    ** "Most important to us currently is the company's ability
to raise capital seems to have been infringed due to this patent
conflict" - Stifel GMP
    ** REUN down 11.76% YTD

 (Reporting by Aniruddha Ghosh in Bengaluru)
 ((Aniruddha.Ghosh@thomsonreuters.com; 91 83 83 81 2416;))