Reprint of SK Post #531 concerning the same analyst with
same DJ Newswire reporter on Mar 31. This guy Jams is really understated. On this post he has a price target of C$5....
now it is under review. He even uses the same
qualifications as to "good news" but not "unexpected".
<<<< To: LT (530 )
From: Silver Knife Wednesday, Mar 31 1999 10:11PM ET
Reply # of 801
"Short-Lived Bump"
March 31, 1999
Biomira Up On Phase I Results; Seen As 'Short-Lived Bump'
By LORI MCLEOD
Dow Jones Newswires
TORONTO -- The 4.3% rise in Biomira Inc.'s (BIOM) stock in Toronto
Wednesday is probably a "short-lived bump" in response to the release of
Phase I clinical trial results for its BLP25 cancer vaccine, Mike Jams,
an analyst with Levesque Beaubien Geoffion Inc. in Montreal, told Dow
Jones.
In Toronto, Biomira's stock is up 0.21 to 5.15 on about 339,000 shares.
Jams noted the stock price rise reflects investors' reaction to positive
results from the Phase I clinical trial of BLP25 in 14 patients with
non-small-cell lung cancer. The company reported the results earlier
Wednesday.
While this is "good news" for Biomira, the results weren't unexpected,
Jams said. He noted the drug is still in the early stages of
development, and predicted that Biomira's share price will settle back.
Jams said he sees "no reason" to change his one-year price target of C$5
at this time. However, he noted that any time a company moves a product
forward successfully it creates value for shareholders.
A Biomira spokesman said the trial was completed on time. He noted the
study demonstrated what Biomira hoped it would: that the vaccine can be
administered safely and triggers an immune system response against
cancer cells.
Biomira is working with regulatory agencies to determine what type of
clinical trials the vaccine will enter next, the spokesman said. The
company is "moving along as quickly as possible" and will provide
updates on its progress, he added.
-By Lori McLeod; 416-943-7800; lori.mcleod@dowjones.ca>>>>>
-end-
Any comments as to the analyst and his firms position? |
