Wedbush upbeat on Northera panel despite FDA staff review

|By:, SA News Editor

Wedbush is out in defense of Chelsea Therapeutics (CHTP -31.3%) amid a steep sell-off triggered by the release of Northera briefing docs.

"The reviewers brought up no material new arguments against approval, in our view," analyst Liana Moussatos says, adding that "the previous panel recommended approval (7-4) —so we anticipate the panel on January 14th is likely to also recommend approval."

Price target is $8.