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Biotech / Medical : Progenitor (PGEN)

PGEN 4.160

+0.4%

Nov 3 3:59 PM EST

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To: Czechsinthemail who wrote ()	10/21/1997 3:45:00 PM
From: chris dawson	of 106

From biz.yahoo.com .... Genesis Initiates Coverage of Progenitor Inc.; Analysts Sets Buy Rating and $13 Price Target SAN FRANCISCO, Oct. 21 /PRNewswire/ -- Genesis Merchant Group Securities initiated coverage of Progenitor, Inc. (Nasdaq:PGEN) with a buy rating and set a 12-month price target of $13 per share. Genesis analyst Deepa Pakianathan, Ph.D., said, ''We believe that Progenitor is a comparatively undervalued genomics/tools company, whose near- term revenue will depend on partnership opportunities. The company has several partnerships in place with potentially more to follow.'' Progenitor has several licensing agreements already in place and Pakianathan expects additional agreements in the future. Agreements are already in place with: Amgen to use Progenitor's leptin receptor as a therapeutic for obesity; SmithKline Beecham Laboratories for a Hereditary Hemochromatosis genetic test; Chiron, a gene therapy collaboration; and Zymogenetics, a red cell factor collaboration.

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