Analyst picks & changes
Published on Monday, June 21, 2010
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Company
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Bank
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Analyst
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Coverage
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Opinion
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Wk
chg
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6/18
cls
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Aeterna
Zentaris Inc. (TSX:AEZ;
NASDAQ:AEZS)
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Bloom
Burton
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Philippa
Flint
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Upgrade
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Hold
(from sell)
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-13%
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$1.18
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Dundee
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David
Martin
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Upgrade
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Buy
(from neutral)
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Flint
upgraded after Aeterna raised $12.1M in a registered direct offering. She
estimates the company now has sufficient cash through early 4Q11, before
anticipated Phase III data for perifosine to treat colorectal cancer and
multiple myeloma (MM) in November and December, respectively. Flint thinks
the stock may increase as Phase III data approaches, so there is a "reasonable
chance" that warrants from the offering will be exercised, with no
further need for an additional offering ahead of the data. Perifosine,
partnered with Keryx Biopharmaceuticals Inc. (NASDAQ:KERX), is an
alkylphosphocholine modulator of the phosphoinositide 3-kinase (PI3K)/protein
kinase B (PKB; Akt) and other signal transduction pathways.
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