TEL AVIV, Israel, February 27, 2013 /PRNewswire/ --
Bioassociate has initiated coverage on KaloBios Pharmaceuticals, Inc. (NASDAQ: KBIO). The Initiation Report contains a detailed discussion of KaloBios' business operations, market dynamics, macroeconomic data and indicators, financial results, potential cash flows, and risks. The Initiation Report is available at: http://www.bioassociate.com/research-and-publications/publications/.
Dr. Ofir Levi, Bioassociate's CEO: "KaloBios is developing monoclonal antibody (mAb) therapeutics based on the company's proprietary Humaneered™ antibody technology platform, with focus on respiratory related indications. KaloBios' lead program, KB001-A has been licensed by Sanofi Pasteur in 2010 for the treatment of Pseudomonas aeruginosa-related hospital-acquired infections. The total deal value of this licensing agreement is $290 million plus royalties, including a $35 million upfront payment. KaloBios recently completed an initial public offering and is now trading on the Nasdaq Global Market.
We see great potential in KaloBios' technology platform and clinical development programs. Further clinical development advancements are likely to attract additional potential collaborators, which will increase investors' attention. For these reasons we, at Bioassociate, decided to initiate analysis coverage with a target price of $10.1 per share, which reflects an upside of 47% over the current share price.About Bioassociate Bioassociate is an independent investment research firm specialized in the life-science sector. Bioassociate helps inform readers about small-mid cap life science companies without extensive analyst coverage. Bioassociate structures its teams with multidisciplinary members to conduct specific assignments. The Bioassociate team has industry experience as well as consulting and research track record, providing investors with in-depth scientific insights and their financial manifestation. Disclosure: The research report described in this press release is not constructed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer would be illegal. Bioassociate is not soliciting any action based upon this material. It does not take into account the particular investment objectives, financial situation, risk profile or other needs of individual investors. Before acting on any advice or recommendation in this material, an investor should consider whether it is suitable for his/her particular circumstances and, if necessary, seek professional advice. The report is based upon information that we consider reliable, but we do not represent that it is accurate or complete, and it should be relied upon as such. Opinions expressed are Bioassociate's current opinions as of the date appearing on this material only; such opinions are subject to change without notice.
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