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Expert Financial Analysis and Reporting

Portola: Reiterating Buy Prior to June 24th PDUFA Date for Betrixaban (PTLA, Buy, $39.35)

Portola has two drugs in late stage development that I believe are likely to be approved in 2017 or early 2018 in both the US and Europe. Betrixaban is an anticoagulant drug that is an oral factor Xa inhibitor. It has the same mechanism of action as two blockbuster drugs: Bristol-Myers Squibb/ Pfizer’s Eliquis ($3.3 billion of sales in 2016) and Johnson & Johnson/ Bayer’s Xarelto ($5.0 billion of sales in 2016). However, its distinctive drug properties differentiate it from these two drugs.

The PDUFA date for betrixaban is June 24, 2017 so we should find out any moment as to whether whether the FDA will approve it.  I expect approval for extended duration, anticoagulant treatment of acute medically ill patients. Importantly, phase 3 trials for Eliquis and Xarelto failed in this indication so that, if approved, it will be the only drug approved in this indication. I estimate that by 2022, US sales of betrixaban could reach $925 million and rest of world sales (primarily Europe) could reach $400 million.

I wrote an initiation report on Portola on May 4, 2017 that discusses the company in detail. It also explains the basis for my 2021 price target of $426 for the stock.


Tagged as , , , + Categorized as Company Reports, LinkedIn



    Thanks once again Larry! Not only for the excellent initial write up, but also for this last minute reiteration. Yesterday I’d been considering an increase in my position, but couldn’t make myself pull the trigger until I belatedly saw your reiterate, minutes before the closing bell. Your reiterate allowed me to hit the buy button, thus increasing my position by 33% at $38.29 minutes before the close.

    Now here on Friday, PTLA is trading at about $56 shortly after trading has resumed, and I’m once again immeasurably pleased by your service. I expect to be holding this one a good long while.

  2. There will be ups and downs, but this stock should proably be in your portfolio for the next ten years.

  3. great call Larry!

  4. Hi, I’m new to your service but have been watching through your newsletter for many years– not only for profits but, for watching the science progress. When you put out the note on the PLTA deadline, I pulled the buy trigger & am now in profits. Thus a new subscription for you.

    I also need to thank you (If memory serves) for (many years ago) following AMGN. I believe your research was key to my getting in on those shares way back when… wasn’t it at SLH? No reply needed, I just wanted to say thanks.


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