Mizuho says Harmony Biosciences shares dropped 2% yesterday and traded down an additional 3% in after hours trading, following news late in the trading session of yet another attempt by Scorpion Capital to invalidate a key U.S. patent for the company’s lead asset, Wakix. Thelatest petition by Scorpion appears to re-hash some of the prior issues and arguments it has previously made, the analyst tells investors in a research note. As such, the firm is “not particularly concerned” and keeps a Buy rating on Harmony shares with a $54 price target.
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