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Biotech / Medical : Micromet Inc (MITI)

MITI 0.120

+33.3%

12:18 PM EST

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From: Arthur Radley	1/5/2011 11:02:13 AM
	of 196

Needham & Company Reiterates a 'Buy' on Micromet (MITI); Pipeline Progress to Provide Potential Catalysts, And Solid Cash Position Noted 8:13 am ET 01/05/2011- StreetInsider Needham & Company reiterates a 'Buy' on Micromet (NASDAQ: MITI), PT $13. Needham analyst says, "In the near-term, we believe that data presentations, progress update from the ongoing trials and new trial initiations may drive the stock higher: the ongoing pivotal trial is expected to take 2 years to complete enrollment. In the long-term, we favor the bispecific antibody platform (8 products in development/12 candidates in early-stage), focused on established drug targets and recruitment of the immune system, as a new and potent next-generation antibody strategy. With a projected cash burn of $55-60MM/year, we believe the Company may have sufficient resources to support clinical development until the pivotal data in 2013." For more ratings news on Micromet click here and for the rating history of Micromet click here. Shares of Micromet closed at $8.11 yesterday, with a 52 week range of $5.06-$8.98. .

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