Arana Therapeutics (AAH, TP $1.09) BUY
AAH has received regulatory approval from the US FDA to conduct
clinical trials (Phase II) in humans suffering from rheumatoid arthritis.
The trial is expected to start by the end of this year. It will
be a dose ranging study of AAH's lead compound (known as ART621) and
involve approximately 200 patients.
If the trial is successful we would expect the project to be
licensed out.
The next major milestone will be the release of the psoriasis
Phase II results expected in Jan/Feb 09.
The share price should move closer to our target ahead of the
release of these results.
AAH is currently trading below cash backing and royalty stream,
which we calculate at 93c.
AAH
arana therapeutics limited
Arana Therapeutics (AAH, TP $1.09) BUYAAH has received...
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