Raptor Pharmaceuticals announces publication of PROCYSBI data Raptor Pharmaceutical announced that data from its open label extension study of delayed-release cysteamine bitartrate, or PROCYSBI, has been published in the Journal of Pediatrics. The study demonstrated that patients with nephropathic cystinosis who took PROCYSBI for two years were able to sustain optimal cystine control in their white blood cells and preserve kidney function over the long term, and had significant improvements in social, school and total functioning based on validated quality of life measurement scales. There were no unexpected or serious safety concerns attributable to PROCYSBI. All 40 patients experienced one or more treatment-emergent adverse events.
Raptor downgraded to Underperform from Perform at Oppenheimer Oppenheimer analyst Chris Marai downgraded Raptor Pharmaceuticals to Underperform with an $8 price target. A takeout of the company is unlikely at current valuation levels, Marai tells investors in a research note. He recommends selling the stock.