IMCL up 2 3/4
NEW YORK, Aug. 5 /PRNewswire/ -- The following is being issued by Oscar Gruss & Son Incorporated, a member of the National Association of Securities Dealers, CRD number 2091:
Oscar Gruss & Son Incorporated initiates coverage on ImClone Systems (NASDAQ:IMCL; $21-7/16) with a SPECULATIVE BUY rating.
In a new report, Akhtar Samad, M.D., Ph.D., senior equity research analyst at Oscar Gruss, provides a detailed examination of ImClone Systems (IMCL), a development stage biotechnology company that researches, develops and will market primarily biological products for the treatment of cancer. The report projects that positive newsflow over the next 12 months from multiple ongoing advanced clinical trials in various cancers for ImClone's lead products, a monoclonal antibody (C225) and a cancer vaccine (BEC-2), should lead to one or more regulatory filings by mid-2000 and corporate profitability by late 2002/early 2003. The analyst expects EPS to grow from ($0.38) in 1999 to $1.19 in 2003. |
