Tuesday began with green lights for most listed companies in Germany. The opinions of analysts and company announcements make the stock prices - or they are driven by the mood of economic data. The Ifo Business Climate Index, for example, rose by 2.2 points to 92.6 points in August 2020 compared to July. The survey data is collected every month from around 9,000 companies and makes it the most important leading indicator in Germany. "The German economy is on course for recovery," Ifo President Clemens Fuest announced. In this context, stocks that still have potential are now exciting.
Study results expected in Q4
XPhyto Therapeutics Corp. (CSE: XPHY) this morning announced an update on its transdermal delivery system for the neurological drug Rotigotine. The German subsidiary Vektor Pharma TF GmbH ("Vektor") has completed the process implementation for the manufacture of its Rotigotine patches. The next step will be the production of clinical samples and analytical work in Vector's EU GMP laboratory and manufacturing facility in Baden-Württemberg, Germany. Human bioavailability studies in Europe are planned for Q3 2020 and results are expected in Q4 2020, the company announced.
Rotigotine approved in EU and USA
The active pharmaceutical ingredient Rotigotine can be used for the treatment of Parkinson's disease and restless legs syndrome in Europe and the United States and is approved accordingly. It is a generic and off-patent drug, usually formulated as a once-daily transdermal patch to provide a slow and steady supply of the drug over a 24-hour period.
Focus on commercialization
"Our goal is the commercialization of a low-cost Rotigotine patch with superior bioavailability and adhesion properties," said Hugh Rogers, XPhyto's CEO. "Incorporating Rotigotine into Vektor's novel transdermal drug delivery system platform is a major accomplishment. With the formula locked and manufacturing soon to commence, we look forward to the upcoming clinical studies."
Analysts adjust
At the beginning of the week Bayer (FSE: BAYN) had two 'Buy' ratings. The Swiss UBS issued a target price of EUR 110.00, but DZ Bank lowered the fair value of the share from EUR 79.00 to EUR 75.00. The reason for the reduction in the target price was uncertainty about the settlement of future glyphosate litigation. Siltronic's (FSE: WAF) shares are now among the winners on the price lists, as Credit Suisse upgraded the rating from 'Neutral' to 'Outperform' and raised the price target from EUR 90.00 to EUR 100.00.
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