AAH arana therapeutics limited

Arana Therapeutics (AAH, TP $1.09) BUYAAH has received...

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    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.
 
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Currently unlisted public company.

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