latest wilsonhtm report

hey guys here's a snippit of wilson's latest coverage on CXS:

Recommendation
Our view is that ODAC will recommend Omapro. Although valid issues were raised on efficacy and trial conduct, ODAC did not contest Omapros benefit: risk ratio and the panel will be mindful that there is no alternative, approved therapy for the patients they are discussing. There is an opportunity to invest at less than half the fundamental asset value for investors prepared to take on high risk at appropriate weightings. The FDA delay has introduced risk to launch timing and that of a potential capital raising by ChemGenex. These are minor impacts but we give both appropriate treatment: launch pushed into 1HFY11; and a $15M capital raise, perhaps as early as May.

Our BUY rating is
maintained on ChemGenex. Target is revised to $1.70 per share.