TD Cowen lowered the firm’s price target on Milestone Pharmaceuticals to $9 from $17 and keeps an Outperform rating on the shares. The firm noted Milestone received an RTF for its NDA for etripamil in pSVT. The FDA requested clarification on the timing safety events recorded for AE’s in the Ph3 studies but not concerns on nature or severity. The company will meet with the FDA for clarification and Cowen updated its model to reflect timeline delays.
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