Aegis Capital has reiterated a ‘Buy’ rating and price target of $3 on Ocera Therapeutics (NASDAQ: OCRX) following the company’s recent report of financial results for the quarter ended March 31, 2017. Ocera reported cash, cash equivalents and marketable securities of $25.2 million and restated prior guidance of cash on hand supporting operations into the second quarter of 2018. The company also provided an update on its clinical development programs of OCR-002 for the treatment of hepatic encephalopathy (HE). The company is expected to have an end of phase 2 meeting with the FDA in the third quarter of 2017, which should illuminate the path forward for OCR-002.
For more information, visit www.ocerainc.com
Ocera Therapeutics, Inc. is a clinical stage biopharmaceutical company focused on the development and commercialization of OCR-002 (ornithine phenylacetate) in both intravenous and oral formulations. OCR-002 is an ammonia scavenger and has been granted orphan drug designation and Fast Track status by the U.S. Food and Drug Administration (FDA) for the treatment of hyperammonemia and resultant hepatic encephalopathy in patients with acute liver failure and acute-on-chronic liver disease.
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