The Globe and Mail reports in its Friday, April 21, edition that CIBC analyst Prakash Gowd, calling Theratechnologies' Ibalizumab drug a "game-changer," began coverage with an "outperformer" rating. The Globe's David Leeder writes that Mr. Gowd set his target at $10, $2.23 above the consensus. Mr. Gowd says in a note: "This will be a first-in-class drug for multi-drug resistant HIV (MDR HIV) when it likely receives approval later this year, and will fulfil an urgent need in the treatment of patients. ... We expect rapid uptake of Ibalizumab and forecast peak sales of $446-million. We expect value appreciation between now and FDA approval of Ibalizumab. Small-cap biotech stocks are typically milestone-driven. Specifically, stocks react to clinical, regulatory and commercial events. Theratechnologies' stock has already moved in response to clinical development success with Ibalizumab. The next key milestone will be the near-term BLA filing, followed by the potential approval later this year. We recommend investors position themselves well in advance since we expect a valuation run into approval as the market gains comfort with the likelihood of Ibalizumab being approved and commercialized in the U.S."