Optimer (NASDAQ:OPTR) Should Get Fidaxomicin Approval in U.S, Europe

Applications for fidaxomicin were submitted by Optimer (NASDAQ:OPTR) to the appropriate regulatory agencies in 2010, and Needham says they have a good chance of being approved after Phase 3 results.

Needham noted, "Optimer submitted both European and U.S. regulatory applications for fidaxomicin (FDX) in 2010. We remain favorably inclined based on a successful Phase 3 program and anticipate approval in both regions in 2011. We believe the stock is undervalued (~$390MM EV), given low regulatory risk and proximity to commercialization."

Needham & Company maintains a "Buy" on Optimer Pharmaceuticals, which closed Thursday at $11.41, down $0.07, or 0.61 percent. They have a price target on them of $19.