Doc Offers Top Hep C Drug Picks: BioBuzz
Cory Kasimov boosted his Ariad rating Monday morning based on two upcoming catalysts from the company's drug pipeline: 1) Results from a phase I, proof of concept study of AP24534 chronic myeloid leukemia expected at the American Society of Hematology meeting in early December; and 2) the second interim analysis from a pivotal phase III study of ridaforolimus in sarcoma in the first quarter of next year.
"All in, we believe ARIA shares are attractive given an enterprise value of [less than] $200 million despite having an oncology asset (partnered with Merck) in a pivotal program, and a second wholly owned asset with exciting, albeit early, data that is poised to move into pivotal development in 2010," writes Kasimov. He has a $6 price target on the stock.
Aria shares closed Friday at $2.17.
FDA Delays Approval Decision on Xenoport Drug
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