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Biotech / Medical : Genitope GTOP

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From: scaram(o)uche10/9/2007 10:03:06 AM
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messages.finance.yahoo.com

Reported on Briefing.com at 8:14...

GTOP Genitope: Brean Murray believes Phase 3 MyVax trial will fail (3.56 )

Brean Murray notes GTOP is expected to report Phase 3 results from its MyVax trial in late Dec, and they strongly believe that the trial will fail and drive the co to a near-cash valuation; firm's year-end cash per share estimate is $0.75. They believe that if the Phase 3 MyVax trial fails at the end of the year, GTOP will have a very difficult time justifying optimism for the rest of its clinical and preclinical pipeline for additional fundraising. Firm believes its antibody panels are only commercially viable if MyVax receives approval. The greatest value firm sees in GTOP is the value of its net loss carry-forwards. Firm strongly recommends selling into such strength if it returns.
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