YMI: YM Biosciences, Inc. (YMI on AMEX) Message Board

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Biotech / Medical : YMI: YM Biosciences, Inc. (YMI on AMEX)

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From: mopgcw	4/9/2006 2:24:38 AM
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YMI-AMEX Buy/Speculative Risk - Price 5.69 on April 4 by A.G. Edwards Initiating coverage with a Buy rating for speculative investors and a price objective of 15. We believe YM represents a timely [biotechnology] investment opportunity as few early-stage companies offer as rich a pipeline as YM....Data from an ongoing pivotal Phase III trial are fast approaching for YM's most advanced product, Tesmilifene...which works with standard chemotherapy agents to enhance their clinical efficacy...[and helped] increase median survival of patients with metastatic breast cancer by 51%...On an absolute basis, a median overall survival of 29.7 months is a major improvement....We estimate that YM will have about $50 million in cash and short-term investments on its balance sheet at end of Q306. The firm raised $40 million during the quarter through an equity offering. Given a cash-burn rate of roughly $20 million per year, YM [has] just over two years of cash on its books...enough to generate pivotal clinical data from its second Phase III Tesmilifene trial. Target: 15.

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