RE: Future News Expected Here20 Aug 2020 13:05
4: Is there anything more to come?
A4: There are two important pieces of news to look forward to. First, as just mentioned the FDA has a scheduled user feed date on 29th September, which is the date by which it should make a decision about Alkindi provided that all the requirements are in the filing. Apart from the confidence of Eton, Washington Analysis Group has no doubt that the application will be approved and also has high confidence that FDA will act on or even before the September 29 date.
Q6. What about Diurnal Group’s share price?
A6: On two occasions recently, there have been some quite large movements in the share price and, while some of the gains are subsequently given up, the trend is very much in an upward direction. The group is well funded, so its cash position is not an issue, which suggests that the shares are likely to continue to be driven by news flow. We would expect a substantial positive movement on FDA approval of Alkindi, as it removes the risk and Eton will be ready to launch.
n its second quarter results release last week, Eton made some fairly positive statements about Alkindi. Apart from highlighting the upcoming FDA user feed date of 29th September, Eton was confident of the drug’s approval, and stated that it was working aggressively on launch preparation activities so that it would be in a position to launch shortly after formal approval is received.
In addition, Eton has indicated that its expectations for the sales potential of Alkindi is more than three times higher, at $100m, than our own peak forecasts, suggesting that there is upside potential to the numbers in the event that Eton is right. So, an important deal for the company.
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