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Biotech / Medical : biotech fireworks

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To: nigel bates who started this subject	10/13/2003 12:15:32 PM
From: JMarcus	Read Replies (1) of 7424

PARS us over 26% on upgrade by CE Unterberg: 9:32AM Pharmos Corporation started with a Buy at CE Unterberg; target $6 (PARS) 2.50 +0.02: CE Unterberg initiates coverage with a Buy rating and $6 target; firm says the co's lead drug candidate, Dexanabinol, is in a Phase III trial to treat patients with traumatic brain injury, which is a $1 bln mkt with no alternatives; following positive Phase III results in Q4 2004, firm believes Dexanabinol could be approved to treat severe TBI patients by mid-2006 and could reach $500-$600 mln in worldwide sales in 2009; a partnership (expected in 2005) and Phase II results in additional indications could provide added upside.

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