Diamonds and Dogs
The markets are taking a bite out of Raptor Pharmaceuticals (RPTP) today. Raptor is down 37% after the announcement that their experimental drug for nonalcoholic steatohepatitis (NASH) in children, RP103, failed to meet its primary endpoint in a second mid-stage trial. Because RP103 reportedly failed to make any meaningful impact on liver fibrosis, Raptor expects to discontinue the drug's clinical program for NASH following these disappointing results. Let's hope the company finds success with their other drugs.
GoPro is bouncing back today. GoPro (GPRO) has had a tough month and a half. At the start of August everyone loved the stock above $60, but now with the stock nearly cut in half, the analyst community has been quiet until today. An analyst at Northland Securities made comments today saying the sell-off in GoPro has provided a compelling entry point. The analyst believes the caution about slowing sales for the GoPro cameras has been priced in and the growing sports content and video ecosystem make it a compelling acquisition target for Apple or another company down the road.