H.C. Wainwright analyst Raghuram Selvaraju lowered the firm’s price target on Eton Pharmaceuticals to $9 from $10 and keeps a Buy rating on the shares after the FDA issued a Complete Response Letter in response to the company’s new drug application for its dehydrated alcohol injection for the treatment of methanol poisoning. The firm reduced its probability of regulatory approval to 80% from 90%, while delaying the market entry of DS-100 to later next year. The analyst remains confident that DS-100 can ultimately be approved and launched in the U.S.
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