Halister News

(Bloomberg) -- Cempra rises as much as 11% as Roth Capital Partners analyst Michael Higgins upgraded to buy from neutral, PT $8 from $2.50; Top-line results from the first of two skin infection (ABSSSI) studies with Taksta (fusidic acid) bode well for refractory bone and joint infections (BJI) data expected this year, he says.

• "Most impressed" with the 100% efficacy in the 99 patients with MRSA infections, which demonstrates a "strong efficacy profile" and is supportive for ongoing BJI trial
  • The dosing in BJI trial is an extension of the dosing in this ABSSSI trial
• While the drug’s role in ABSSSI is compelling, its value in bone and joint infections is "far greater"
  • Says Taksta’s primary commercial potential lies in treating prosthetic joint infections (PJIs) and BJIs
• FDA approval for Taksta in ABSSSI is "likely;" not clear if and when an NDA will be filed in BJI
• Notes that Taksta has been used in Europe for more than three decades
• NOTE: Reports 4Q earnings tomorrow pre-market, conf. call 8:45am
• NOTE: CEMP has 1 buy, 11 holds, 2 sells, avg PT $4.69: Bloomberg

To contact the reporter on this story: Tatiana Darie in New York at tdarie1@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Morwenna Coniam