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'Pivotal Topline Up Next' for Biotech's Phase 3 Cardiac Clinical Trial

Streetwise Reports, Streetwise Reports
0 Comments| May 2, 2019

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A study update and the next steps to advance the therapeutic were covered in a ROTH Capital Partners report.

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In an April 25 research note, ROTH Capital Partners analyst Jotin Marango reported that the last required major adverse cardiac event, the 250th, occurred in Resverlogix Corp.'s (RVX:TSX) BETonMACE Phase 3 trial of apabetalone. The company expects to release corresponding topline data between mid-June and mid-August 2019.

"We remain bullish on the risk/reward of apabetalone into the Phase 3 readout, based on Phase 2 data and the Phase 3 design, the commercial opportunity and the lateral indication optionality of the drug," Marengo commented.

The next step, before the data readout, is conducting last study visits for all of the participating patients, noted Marango. Subsequently the database will be locked, and about two weeks after that, Resverlogix will announce the study results.

Should those data be positive, regulatory review and potential approval would follow, which would take place throughout this year and next, Marango explained. Commercialization of apabetalone then would begin in 2021, with a label for patients with type 2 diabetes and at high cardiovascular disease risk following hospitalization, a population consistent with that in the Phase 3 study.

The analyst noted that apabetalone would likely reach peak global sales of more than $1 billion by 2025, based on the market performance of the type 2 diabetes medication Jardiance (empagliflozin).

Also, Marango added, with its strong safety profile, Resverlogix could expand the use of apabetalone beyond the BETonMACE population.

ROTH has a Buy rating and a CA$10 per share target price on Resverlogix, whose stock is currently trading at around CA$3.97 per share.

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 ROTH Capital Partners, Resverlogix Corp., Company Note, April 25, 2019

Regulation Analyst Certification ("Reg AC"): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months.

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