Wk chg

2/1 cls

Celsion Corp. (NASDAQ:CLSN)

Roth Capital Partners

Joseph Pantginis


Neutral (from buy)



Pantginis also lowered his target to $1.70 from $10 after Celsion announced that its IV ThermoDox failed in the Phase III HEAT trial to treat non-resectable hepatocellular carcinoma (HCC) (see B18). He said his target is now based solely on the Phase II study of ThermoDox in recurrent chest wall breast cancer, and assigns a 10% chance of success in this indication. The product is doxorubicin encapsulated in a heat-activated liposome.

Furiex Pharmaceuticals Inc. (NASDAQ:FURX)


Randall Stanicky





Stanicky initiated coverage with a $45 target after FDA approved three Type II diabetes products - Nesina alogliptin, Kazano alogliptin/metformin and Oseni alogliptin/pioglitazone - from partner Takeda Pharmaceutical Co. Ltd. (Tokyo:4502). Stanicky sees highly visible cash flow on royalties and milestones for Furiex mainly from Nesina, which Takeda already markets in Japan. Stanicky also see upcoming catalysts for Furiex's MuDelta, with Phase III data to treat diarrhea-predominant irritable bowel syndrome (IBS-D) expected early next year as well as "progressing" partnership discussions. MuDelta is a locally acting mu opioid receptor agonist and delta opioid receptor antagonist. Furiex co-developed alogliptin with Syrrx Inc., which Takeda acquired. Takeda said it plans to launch the alogliptin products in the U.S. this summer. The products are under review in Europe.