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Biotech / Medical : Biotech & Pharma.T.A,

BIB 79.78

0.0%

Dec 31 4:00 PM EST

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To: Jibacoa who wrote (1967)	10/15/2007 10:15:24 AM
From: mopgcw	Read Replies (1) of 3722

VIA Pharmaceuticals - VIAP-NNM Buy - Price 5.20 on Oct. 10 by Think Equity Price target: 7. VIA is a biotechnology company focused on developing small-molecule compounds for the treatment of cardiovascular diseases. [It announced that] two ongoing Phase II trials with the company's lead product candidate, VIA-2291, are proceeding on course following a positive interim Data and Safety Monitoring Board review. Top-line results from these studies are anticipated in mid-'08. Given its...compound targeting an underserved opportunity in the multibillion-dollar atherosclerosis market, we view an investment in VIA as a high-risk, potentially high-reward, biotech play....In our view [this is] one of the few novel therapeutics in the cardiovascular landscape. While the development of medicines in this area has historically been a difficult endeavor, given the current valuation and the high reward if the drug were successful, we maintain Buy rating and target. We reach our target by applying an industry-average nine multiple to our 2016 peak royalty revenue estimate of $281 million, discounted back at 40% per year. Market cap: $102.4 million.

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