Piper Sandler analyst David Amsellem last night initiated coverage of Fennec (FENC) with an Overweight rating and $18 price target The firm says the company’s Pedmark, its intravenous formulation of sodium thiosulfate, represents a “unique opportunity” in oncology supportive care as the only agent approved for the reduction in the risk of cisplatin-inducted ototoxicity. Piper believes peak U.S. sales potential north of $300M is realistic.
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