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Thanks for all your helpful posts and links. I am a biomed neophyte, and long IMCL, and just wanted to pass this report along to make sure everyone has seen it.
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SAN FRANCISCO, March 9 /PRNewswire/ -- The following is being issued by Moors & Cabot Dakin Securities, a member of the National Association of Securities Dealers, CRD number 594:
Moors & Cabot Dakin analyst Jim McCamant initiated coverage of ImClone Systems (Nasdaq: IMCL) today with a "buy" rating and a 12-month price target of $30 per share. Mr. McCamant believes that the Company is on the verge of significant progress in the commercialization of important new drugs for the treatment of head and neck cancer. The Company has also recently entered into a large international Phase III trial of a vaccine for the treatment of lung cancer. In addition, ImClone Systems is planning Phase I/II clinical trials for an anti-angiogenesis compound (blocking growth of tumors) during the second half of 1999. Based upon comparable valuations of other iotechnology companies and discounted future revenues and earnings, ImClone ystems could attain a market capitalization of more than $1 Billion by the year 2001.
SOURCE Moors & Cabot, Inc.
-0- 03/09/99
/CONTACT: Sam Skinner, Executive Vice President, West Coast Division of
Moors & Cabot, Inc., 415-981-2114, or sskinner@dakn.com/
/Web site: dakn.com
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