Versant downgrades Transition to neutral

Versant Partners has downgraded Transition Therapeutics (TSX:TTH; NASDAQ:TTHI) to “neutral” from “buy” and slashed its price target to $3.25 from $6.25, citing Transition’s decision to discontinue development of its lead diabetes drug after it underperformed in a Phase 1/2  clinical trial. The stock has dropped 18% to $3.25 Friday morning, after trading as low as [...]

Transition and Elan set Phase 3 trial of ELND005

Elan (NYSE:ELN) and Transition Therapeutics (TSX:TTH; NASDAQ:TTHI) have released top line results of a Phase 2 clinical trial of their ELND005 drug in patients with mild to moderate Alzheimer’s disease and ”based on a preponderance of evidence, and input from experts in this field, the companies intend to advance ELND005 into Phase 3 studies.” Last December, [...]

Cormark ups Transition price target 52%

Cormark Securities raised its target price on “buy-rated” Transition Therapeutics (TSX:TTH; NASDAQ:TTHI) to $8 from $5.25, saying it believes Irish partner Elan is likely to move Transition’s ELND005 drug forward into a Phase 3 clinical trial in Alzheimer’s disease.  The stock closed at $3.50 on the TSX Friday. An imbalance of deaths in an ongoing [...]

Intellipharmaceutics in patent settlement for generic Focalin XR

Intellipharmaceutics International (TSX:I; NASDAQ:IPCI) announced patent settlements over a generic version of the attention deficit hyperactivity disorder drug Focalin XR in the U.S. In a statement, the company said Novartis Pharmaceuticals (NYSE:NVS) and Celgene (NASDAQ:CELQ) have settled their patent suit in the U.S. District Court for the District of New Jersey.  Also, Elan Pharma International [...]