Hyperion Therapeutics completes acquisition of Andromeda Biotech Hyperion Therapeutics announced that it has completed its previously announced acquisition of Andromeda Biotech. The acquisition broadens Hyperion's pipeline to include DiaPep277, a potentially first-in-class immunotherapy for new onset Type 1 diabetes that is currently being evaluated in a fully enrolled confirmatory Phase 3 clinical study in adult patients, with results anticipated in the first quarter of 2015. DiaPep277 holds Orphan Drug designation in the U.S.
Hyperion Therapeutics price target raised to $52 from $36 at Wedbush Wedbush raised Hyperion's price target to $52 ahead of the hepatic encephalopathy Phase III trial of Ravicti and the likelihood of success. Shares are Outperform rated.