Shares in BTG (Other OTC: BTGGF - news) fall 4.5 percent as full-year results meet expectations, partly due to revenues from third parties, and analysts say the next catalyst for the stock will not come before the U.S. Food & Drug Administration's decision on its varicose vein treatment Varisolve.
Analyst Keith Redpath at finnCap says the next key event for the share price will be FDA approval of Varisolve in the first half of 2014. "We see no reason to buy before this point," he says.
Savvas Neophytou at Panmure Gordon is also not a buyer at current levels. "Ahead of Varisolve shenanigans in the autumn, we retain our 'hold' recommendations as we believe investors should be able to gain a better entry level to this stock," he says.
To see BTG's statement please click on
Reuters messaging rm://paul.sandle.reuters.com@reuters.net
