Astex Pharmaceuticals - Focus shifts to ’110 and ’13387
Mar 11th 2013 - Edison Investment Research today published a report on Astex Pharmaceuticals entitled "Focus Shifts To ’110 And ’13387". In summary, the report says:
Astex’s investment case has advanced considerably in recent months with its significant expansion of studies with its second-generation hypomethylating agent SGI-110, and it Hsp90 inhibitor AT13387. Astex now has six Phase I/II studies underway with these two focus products and should present final results from the first – a Phase I/II study of SGI-110 in MDS/AML – at ASH. We have revised our valuation to reflect these developments and now indicate a value of $599m, equivalent to $6.42/share basic or $5.50/diluted share.
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