Wk chg

12/14 cls

Alexza Pharmaceuticals Inc. (NASDAQ:ALXA)

Roth Capital Partners

Scott Henry





Henry set a $10 target ahead of the Dec. 21 PDUFA date for Alexza's Adasuve Staccato loxapine to treat agitation in adult patients with schizophrenia or bipolar disorder. Henry expects a positive outcome based on correspondence from the agency indicating that manufacturing is the last hurdle and his belief the agency is comfortable with the product's benefit/risk profile. He estimates peak annual revenues of $200-$250M. On Friday, EMA's CHMP issued a positive opinion recommending approval in Europe.

Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY)

Piper Jaffray

Edward Tenthoff


Overweight (from neutral)



Tenthoff also raised his target to $25 from $19 ahead of upcoming milestones, including data next summer from a Phase II trial of ALN-TTR02 for amyloidosis. He noted Alnylam can now focus on its RNAi products and new partnerships after settling litigation with Tekmira Pharmaceuticals Inc. (TSX:TKM; NASDAQ:TKMR) (see BioCentury, Nov. 19). Tenthoff expects Alnylam to partner a number of compounds next year, including ALN-PCS for hypercholesterolemia. ALN-TTR02, an RNAi therapeutic targeting the transthyretin (TTR) gene using second-generation LNP technology, is partnered in Asia with the Genzyme Corp. unit of Sanofi (Euronext:SAN; NYSE:SNY). ALN-PCS, a small interfering RNA (siRNA) against proprotein convertase subtilisn/kexin type 9 (PCSK9) gene, is in Phase I testing.