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By Vandana Singh
  • Mizuho Securities says that the Satsuma Pharmaceuticals Inc (NASDAQ:STSA) story is essentially unchanged. It remains bullish on STS101's potential as an effective, safe, and reliable intranasal dihydroergotamine (DHE) for migraine. 
  • It has adjusted its model to align STS101 pricing to Impel Pharmaceuticals Inc's (NASDAQ:IMPL) migraine treatment, Trudhesa. 
  • According to Drugs.com, Trudhesa costs around $900 per pack of four doses.
  • The model update lowers the price target to $13 from $15, with a Buy rating.
  • The management reaffirmed the timing of topline data for the pivotal SUMMIT trial in 4Q22, followed by a potential STS101 US marketing application filing in 1Q23. 
  • Related: Satsuma's STS101 Shows Favorable Pharmacokinetic Profile, Tolerability In Early-Stage Study.
  • The long-term safety ASCEND trial is also expected to read out in 2H22. 
  • Satsuma ended 1Q22 with a cash balance of $80.6 million, sufficient to fund operations into 2H23 and through projected completion of the STS101 Phase 3 program and potential marketing application filing. 
  • Mizuho expects R&D expenses to trend upward in 1H22 and then taper down later as SUMMIT and ASCEND wrap up. It has also adjusted SG&A expenses, which assume pre-launch commercial activities to potentially commence later in 2023.
  • Price Action: STSA shares are up 2.60% at $2.70 during the market session on the last check Friday.
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Dive Deeper:
Read Why HC Wainwright Lowered Price Target On This Small Biotech Stock
U.S. marketing application filing for Cidara Therapeutics Inc's (NASDAQ: CDTX) rezafungin remains on track for mid-2022, setting up a potential early 2023…
The Daily Biotech Pulse: Bristol Myers, BridgeBio Ink Oncology Pact, FDA Nod For Lava Therapeutics Blood Cancer Study And More
Here's a roundup of top developments in the biotech space over the last 24 hours:
Mizuho Sees Relief For This Small-Cap Stock After Patent Legal Overhang Lifted
The US Patent Trial and Appeal Board (PTAB) issued a final written decision in favor of Concert Pharmaceuticals Inc (NASDAQ:CNCE) regarding the post-grant review…
Why These Beyond Meat Analysts Are Barbecuing Price Targets After $100M Q1 Loss: 'Lower Likelihood Of Disruption'
Beyond Meat Inc (NASDAQ: BYND) shares traded higher Thursday before moving lower in the afternoon, and remain down 56.6% year-to-date after…
One subscription that gives you access to news from hundreds of sites
OPNT: Positive Results for Pharmacodynamic Trial of OPNT003…
By David Bautz, PhD NASDAQ:OPNT READ THE FULL OPNT RESEARCH REPORT
Analysts Share Their Views On Affirm Post Q3 Beat
Analysts offered a mixed opinion on Affirm Holdings, Inc (NASDAQ: AFRM) 
Get all your news in one place