Merrill terminates its coverage of DOV

Merrill Lynch terminated its coverage of DOV Pharmaceutical Inc. based on limited investor interest and a re-allocation of resources. Data reported earlier this summer on DOV's bicifadine suggested that patients with moderate to severe pain had meaningful improvements in their pain scores. It is unclear whether a prospectively defined trial could replicate these data. While bicifadine may be an effective analgesic, it may be difficult to demonstrate that with DOV's remaining resources. In addition, DOV received a deficiency notification from Nasdaq noting that it has failed to comply with the continued listing requirements. Shares of the Somerset, N.J.-based pharmaceutical company were down 4 cents, or 4.26%, at $0.90, on volume of 481,431 shares versus the three-month running average of 1,065,150 shares. (Nasdaq: DOVP)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.