Analyst picks & changes
David Webber of Alex. Brown & Sons lowered his rating on Alpha-Beta Technology Inc. from "strong buy" to "buy" due to the delay in the company's Phase III schedule for Betafectin.
The delay is caused by the company's validation of a reconfigured manufacturing process and the insertion into the trial schedule of a bioequivalency study in healthy volunteers. That would push out possible approval until mid-1997 versus his old estimate of the fourth quarter of 1996.
Nevertheless, Webber said data from the Phase II trial of the drug to prevent post-surgical infections "are still looking promising. The trends are