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Biotech / Medical : Micromet Inc (MITI)
MITI 0.0955-6.4%3:02 PM EST
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From: Arthur Radley3/4/2011 4:07:38 PM
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Needham & Company Maintains a 'Buy' on Micromet (MITI); Blinatumomab Marches on in ALL - Enrolling Pivotal Trial
8:45 am ET 03/04/2011- StreetInsider
Needham & Company maintains a 'Buy' on Micromet (NASDAQ: MITI), PT $13. Needham analyst says, "We are positively inclined to the ongoing pivotal trial of blinatumomab in MRD positive adult ALL, built on strong proof of concept data from a Phase 2 trial that showed an 80% ORR and long durability (~70% of patients alive without clinical evidence of disease at 18 months). We believe the ongoing Phase 2 trial in relapsed/refractory ALL and planned Phase 2 pediatric ALL trial fit well into the Company s plans to build a blinatumomab strategy around ALL. In the near-term, we believe that data presentations, progress update from the ongoing trials, and new trial initiations may drive the stock higher. 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." For more ratings news on Micromet click here and for the rating history of Micromet click here. Shares of Micromet closed at $5.95 yesterday, with a 52 week range of $5.14-$8.98.
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