Stemline boxed warning shouldn’t deter use of Elzonris, says H.C. Wainwright

H.C. Wainwright analyst Raghuram Selvaraju noted that the FDA approved Stemline’s Elzonris two months before the drug’s PDUFA date, which he sees as evidence of the FDA’s acknowledgement of the urgent need for blastic plasmacytoid dendritic cell neoplasm patients given this is the first drug approved in this indication. He also believes, based on his talks with knowledge leaders at the American Society of Hematology meeting, that the boxed warning given to Elzonris should not deter physicians from getting BPDCN patients on the drug, Selvaraju tells investors. He maintains a Buy rating and $38 price target on Stemline shares.

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