ZSAN - Zosano Pharma: Early PK+Safety Study In Q3 2021 May Breathe New Life Into This Biotech

• Zosano Pharma Corporation is a late clinical-stage biopharmaceutical company developing rapid systemic administration techniques for two therapeutics using their proprietary transdermal microneedle system.
• The company is currently developing two therapeutics - one currently prioritized at the NDA stage (Qtrypta - proprietary formulation of zolmitriptan) for migraines which is resubmitting its NDA by 4Q 2021.
• Zosano is in a poor financial position with funding expected to last only 1-year due to insufficient cash of $35M, a cash burn of ~$35M, and total debt of $17M (2020).
• Zosano's next major catalyst that will be life or death for this biotech is 3Q 2021's additional add-on safety/PK data announcement needed for NDA resubmission in 4Q 2021.
• In summary, the author projects Zosano Pharma Corporation as a risky "hold", but if successful in 3Q 2021 a 1-year price target of $2.25 (+134% upside).

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