@morgans have updated research on QRX Pharma (QRX) rating the stock an Outperform, with price target A$1.78. QRX Pharma has resubmitted its NDA after a constructive meeting with the FDA in early October. An approval date is expected to be set for late May 2014. Despite the frustrating delays incurred so far, we believe there is a high probability that QRX's lead product MOXDUO® will be approved. With the A$7.5m placement complete and the Share Purchase Plan about to close, QRX is now well funded until late CY14.