Satsuma Pharma extends gains on positive data for migraine therapy study

Satsuma Pharmaceuticals

21/09/2022 17:52

** Migraine therapies developer Satsuma Pharmaceuticals
Inc's shares  STSA.O  rise for the second straight session after
co reports positive late-stage trial data of lead drug candidate
 in treatment of migraine  urn:newsml:reuters.com:*:nL4N30R3DR
    ** Stock now up ~4% at $7.80
    ** H.C. Wainwright raises PT to $18 from $15 after co's
releases data from its ongoing long-term safety trial for STS101
    ** With over 24 mln annual ongoing migraine prescriptions in
the U.S., assume nasal drug STS101 to touch peak sales of ~$400
mln - H.C. Wainwright
    ** Stock rose nearly 8% on Tuesday
    ** 5 of 6 brokerages rate the stock "buy" or higher, 1
"hold"; their median PT is $14
    ** Including session's gain, stock up ~73% YTD
    
    

 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com;))