“On Monday after market close, Arena Pharmaceuticals (ARNA, Not Rated) reported results from the Phase 2 OASIS study of etrasimod for Ulcerative Colitis. The data presented by Arena looks competitive to the Phase 2 TOUCHSTONE study of ozanimod for treatment of Ulcerative Colitis, and we think that another viable S1P agent being developed in UC may present an overhang on market share assumptions for Celgene’s ozanimod. We remain NEUTRAL.”,” BTIG Research’s analyst wrote.
Separately, HC Wainwright began coverage on Evofem Biosciences in a research note on Monday. They set a buy rating and a $15.00 target price for the company.
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Evofem Biosciences Company Profile
Evofem Biosciences Inc, formerly Neothetics, Inc, is a clinical-stage specialty pharmaceutical company, which develops therapeutics. The Company focuses on localized fat reduction and body contouring. It focuses on the development of LIPO-202 for the reduction of central abdominal bulging due to subcutaneous fat in non-obese patients.
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