In March I wrote a bullish article on OXiGENE (NASDAQ:OXGN), stating the company was undervalued, but weak financials, poor historical stock performance and a suboptimal manufacturing capacity would impede the company's progression to the cancer market. I argued that these inefficiencies could prompt management to sell the company at a discount relative to what I believe to be the true value of OXiGENE's lead ovarian cancer synergy, Zybrestat/Avastin. After all, OXiGENE has disappointed investors time and time again on many fronts, namely by conducting frequent capital raises and failing to execute properly in clinic. Monday, however, shareholders were met with somewhat positive news, as researchers presented data from the Phase 2 study of Zybrestat/Avastin. While the stock remains volatile, I reiterate my "somewhat bullish" thesis on OXiGENE as researchers recommend advancing the program to a late-stage trial.
See the full article on Seeking Alpha: http://seekingalpha.com/article/2668875-update-oxigene-presents-zybrestat-avastin-data-bull-thesis-remains-intact
No comments:
Post a Comment