MedWatch

Brokerage firm slashes Orphazyme price target by 77 percent

Following the CHMP’s indication that biotech firm Orphazyme’s drug candidate for rare metabolic disease Niemann-Pick type C will soon be rejected, institutional brokerage firm Danske Markets has decided to further reduce the company share price target.

Photo: Orphazyme/PR

Biotech company Orphazyme has had its share price target lowered to a mere DKK 3 (USD 0.45) from a previous DKK 13 (USD 1.95) by Danish brokerage firm Danske Markets. The firm maintains its recommendation ”sell,” according to financial news service PLX AI.

On Thursday, Orphazyme plummeted by 29 percent after the company broke the news that its oral presentation for the CHMP, an expert committee for the European Medicines Agency (EMA), had gone badly. As a consequence, the company no longer expects the EMA to approve drug candidate arimoclomol, a would-be treatment for the rare metabolic disease known as Niemann-Pick type C (NPC).

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from MedWatch

CHMP to remove 100 generic medicines from market

Due to fraudulent clinical trials from a contract research organization, the EMA’s expert committee, the CHMP, is now suspending marketing approval authorizations for around 100 generic drugs on the market.

Further reading

Related articles

Latest news

See all jobs