TTH Coverage, target increases....Hey all, for those that are interested, apparently we may be finally getting the interest in our diabetes front, RBC just came out with the below 7 page report as of June 28th, and GMP has bumped there price target to $4 from $3.50. So much for falling below a dollar huh Dont you know squat........DYK(the markets have been easy to make money for 5 years....what are you going to do when you really have to know what your doing....)
Cheers longs,
Transition Therapeutics (TSX: TTH)
Very encouraging 6-month data from E1-I.N.T in
diabetes patients.
Outperform
Speculative Risk
Price: 1.65
Shares O/S (MM): 184.6
Dividend: 0.00
Float (MM): 136.8
Debt to Cap: 0.0%
Price Target: 2.50
Implied All-In Return: 51.5%
Market Cap (MM): 305
Yield: 0.0%
Avg. Daily Volume (MM): 0.51
Strategic Ownership: Institution 1 - 14.6%; Institution 2 - 11.3%
Event
Transition Therapeutics announced encouraging 6-month phase IIa E1-I.N.T. data in
type 2 diabetes patients.
Investment Opinion
• Sustained HbA1c reductions of up to 1.21%. Mean HbA1c levels were
reduced by -0.43% at month 1, peaking at -1.21% in month 5 and reaching
-1.14% at month 6 vs. baseline following only 4-weeks of dosing. In contrast,
HbA1c levels in placebo-treated patients ranged from a decrease of 0.1% to an
increase of 1.0%. Decreases in fasting blood glucose levels, improvements in
glucose tolerance and trends in increased insulin levels were also observed.
• Novo Nordisk decision anticipated by late August. Novo Nordisk has 60
days to make a decision on whether to continue E1-I.N.T. development and if
so, it would have to fund all future development costs.
• Type 1 diabetes E1-I.N.T. results not announced. A similar E1-I.N.T. trial
was conducted in type 1 diabetes patients, but results were not released.