In a recently released analyst research report, H.C. Wainwright Senior Healthcare Analyst Raghuram Selvaraju, Ph.D. downgraded their rating on shares of cannabinoid biotechnology innovator Intec Pharma Ltd. (NASDAQ:NTEC) to neutral.
Just a few weeks back, shares of NTEC crashed after the company released data showing that its Phase III Parkinson’s disease therapy failed to demonstrate statistical superiority to treatment with Sinemet, a combination of carbidopa and levodopa.
According to TheFly, “The analyst is disappointed with the results from the Accordance trial, saying “these data clearly failed to buttress the case for Intec’s core technology platform.”
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