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Developer of Cannabinoid-Based Drugs to Resume Cancer Pain Trial

Streetwise Reports
0 Comments|April 18, 2019

Calling this latest development "excellent news," Paradigm Capital has raised its target price on the company's stock.

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In an April 9 research note, analyst Rahul Sarugaser reported that Paradigm Capital raised its target price on Tetra Bio-Pharma Inc. (TBP:TSX.V; TBPMF:OTCQB) to CA$1.75 per share from CA$1.50 after "the excellent news" it was restarting its Phase 3 clinical trial of PPP-001. The company's current share price is around CA$0.66 per share.

"The resumption of this Phase 3 trial, particularly now that it is registered with the U.S. Food and Drug Administration as well as Health Canada—increasing its market by 10 times—when it begins would likely be significantly accretive to our valuation," Sarugaser commented.

He explained that Tetra's study was put on hold in January because two microbial contaminants were discovered in batches of its PPP-001 cannabis pellet drug, which the company had sourced from Aphria. At the time, it was estimated the issue would delay the trial by six months, until July. However, Tetra is back on track, three months earlier than expected, and is ready to relaunch the study.

Now called SERENITY, the clinical trial will test PPP-001, now called CAUMZ, in 300 patients with advanced cancer pain, enrolled at 20 sites across the U.S. and Canada, Sarugaser explained. CAUMZ will be administered via a Health Canada-approved vaporizer.

If patient registration starts in June, the trial could be completed by year-end 2019. Accordingly, Tetra could then apply to both regulatory agencies for approval of CAUMZ by early 2020.

Paradigm has a Buy rating on Tetra.

 

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Disclosures from Paradigm Capital, Revival Gold Inc., Research Note, April 9, 2019

The analyst (and associate) certify that the views expressed in this report accurately reflect their personal views about the subject securities or issuers. No part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendations expressed in this research report.

Analysts are compensated through a combined base salary and bonus payout system. The bonus payout is determined by revenues generated directly or indirectly from various departments including Investment Banking, based on a system that includes the following criteria: reports generated, timeliness, performance of recommendations, knowledge of industry, quality of research and investment guidance and client feedback. Analysts are not directly compensated for specific Investment Banking transactions.

Paradigm Capital Inc. expects to receive or intends to seek compensation for investment banking services from the subject companies in the next 3 months.

 


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