Get the Latest Investment Ideas Delivered Straight to Your Inbox.

TICKERS: BTAI

Biopharma's Drug Well Tolerated in Opioid Withdrawal Study
Research Report

Source:

An H.C. Wainwright & Co. discussed these proof-of-concept data and described the company's planned Phase 1 study.

In a Feb. 5 research note, H.C. Wainwright & Co. analyst Ram Selvaraju reported that BioXcel Therapeutics Inc.'s (BTAI:NASDAQ) Phase 1 study results of intravenous (IV) dexmedetomidine for opioid withdrawal symptoms were "encouraging."

The proof-of-concept study showed all of the 10 patients who received dexmedetomidine demonstrated "substantial improvement" of their symptoms, as measured on the clinical opioid withdrawal scale (COWS). They showed a drop in their COWS scores after 75 or fewer minutes, some in under 30 minutes. Tolerating the drug well, the participants did not experience any adverse events. The five patients who received the placebo did not report any benefit.

The results were "particularly impressive," highlighted Selvaraju, "given the fact that this group of patients was classified as undergoing mild to moderate withdrawal" and yet, a clear drug benefit among them was delineated.

Selvaraju commented that the indication of opioid withdrawal "should be an attractive opportunity due to the fact that application would be in an acute setting (no more than 14 days of longitudinal dosing), making clinical development a rapid process."

Data from this and previous Phase 1 studies should help BioXcel decide on the optimal dose of BXCL501, its sublingual form of dexmedetomidine being developed for agitation, the analyst noted. In those prior trials, IV dexmedetomidine was administered for not only opioid withdrawal symptoms but also in Alzheimer's disease and schizophrenia patients and in healthy older volunteers.

Regarding BXCL501, the Phase 1 will be a placebo-controlled, dose escalation study in which 60 healthy volunteers will be enrolled and divided among four dosing groups. Those receiving the drug will get only one dose. Pharmacokinetics and safety will be the primary endpoints.

H.C. Wainwright & Co. has a Buy rating and a 12-month price target of $25 per share on BioXcel, whose stock is currently trading at about $9.60 per share.

[NLINSERT]

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. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Kerr Mines. Please click here for more information.
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 H.C. Wainwright & Co., BioXcel Therapeutics Inc., Company Update, February 5, 2019

Investment Banking Services include, but are not limited to, acting as a manager/co-manager in the underwriting or placement of securities, acting as financial advisor, and/or providing corporate finance or capital markets-related services to a company or one of its affiliates or subsidiaries within the past 12 months.

I, Raghuram Selvaraju, Ph.D., certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies.

None of the research analysts or the research analyst's household has a financial interest in the securities of BioXcel Therapeutics, Inc. (including, without limitation, any option, right, warrant, future, long or short position).

As of January 31, 2019 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of BioXcel Therapeutics Inc.

Neither the research analyst nor the Firm has any material conflict of interest in of which the research analyst knows or has reason to know at the time of publication of this research report.

A research analyst of the firm and/or the research analyst’s household has a financial interest in and own the securities of Bausch Health Companies Inc. (including, without limitation, any option, right, warrant, future, long or short position).

As of January 31, 2019 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Bausch Health Companies Inc.

The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services.

The Firm or its affiliates did not receive compensation from Bausch Health Companies Inc. for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report.

The Firm or its affiliates did receive compensation from BioXcel Therapeutics, Inc. for investment banking services within twelve months before, and will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report.

The Firm does not make a market in BioXcel Therapeutics, Inc. and Bausch Health Companies Inc. as of the date of this research report.

H.C. Wainwright & Co., LLC and its affiliates, officers, directors, and employees, excluding its analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives (including options and warrants) thereof of covered companies referred to in this research report.




Want to read more about Biotechnology / Pharmaceuticals investment ideas?
Get Our Streetwise Reports Life Sciences Report Newsletter Free and be the first to know!

A valid email address is required to subscribe