Adamis what is a rinseless washPharmaceuticals Corp
(NASDAQ:
ADMP
)
announced
its NDA filing Friday for a fast-dissolving sublingual tadalafil tablet for erectile dysfunction.
The Analyst
Raymond James analyst Elliot Wilbur maintained an Outperform on
Adamis.
The Thesis
The submission of the NDA is positive, as an approval would place Adamis in the $4-billion-plus phosphodiesterase inhibitor market, Wilbur said in a Monday note.
Even a small conversion rate could translate to a $150-million top-line opportunity, the analyst said.
Raymond James expects the FDA decision to come through in the fourth quarter, with a potential commercial launch in 2020.
The stock price has factored in a Symjepi launch in Q1, but is not adequately reflecting other pipeline assets, Wilbur said.
The approval of tadalafil would pitch Adamis against
Eli Lilly And Co
(NYSE:
LLY
)'s Cialis and
Pfizer Inc.
(NYSE:
PFE
)'s recently genericized Viagra, as well as vardenafil, a combo drug consisting of Levitra and Staxyn from
GlaxoSmithKline plc
(NYSE:
GSK
).
"We reiterate our Outperform rating as the company continues to make forward progress and provides better visibility on timelines," Wilbur said. "We believe the risk-reward scenario given the pipeline setup is favorable with significant upside."
The Price Action
Adamis shares were up 3.11 percent at $2.32 at the time of publication Wednesday.
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Latest Ratings for ADMP
Nov 2018
B. Riley FBR
Downgrades
Buy
Neutral
May 2018
Maxim Group
Maintains
Buy
Buy
Apr 2018
H.C. Wainwright
Initiates Coverage On
Buy
View More Analyst Ratings for ADMP
View the Latest Analyst Ratings
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