share price , page-16

It seems from this article that Nomura has issued a new research update on PRR, post the announcement of the new cancer indications.

http://www.4-traders.com/PRIMA-BIOMED-LIMITED-6500491/news/Prima-BioMed-Limited-28-June-2013-NOMURA-Targeting-pancreatic-metastatic-colorectal-and-triple-17057400/

-----------------------------------------------------------------
"Prima BioMed Limited : 28 June 2013 NOMURA: Targeting pancreatic, metastatic colorectal, and triple-negative breast cancers >>


06/28/2013| 03:04pm US/Eastern

Recommend:

Action: Phase 2 trials for three new indications

PRR has announced that it intends to commence three separate phase 2 clinical trials to evaluate the use of CVac for the treatment of resectable pancreatic cancer, metastatic colorectal cancer, and triple-negative breast cancer (TNBC). CVac is a personalized immunocellular therapy which targets mucin-1 over-expressing cancer cells. To date, PRR has advanced its CVac therapy to Phase 3 trials for the treatment of epithelial ovarian cancer in remission. As Mucin-1 is over-expressed on a number of these cancer types and PRR's data indicates that CVac induces a Mucin-1 specific T cell response, then a positive impact of CVac on new cancers is a large potential opportunity.

Catalyst: We expect these trials to begin in FY14F

We assume PRR would, at least initially, address the US and EU markets for TNBC, given their significant size and relatively established nature. Within the US and EU, PRR is aiming to address those who have recurrent, Mucin-1 type TNBC, pancreatic cancer and metastatic colorectal cancer.

Valuation: Buy maintained, price target AUD0.21 (from AUD0.23)

The new trials will be co-funded by PRR and the Saxony Development Bank, who have agreed to provide up to EUR3.8mn in a non-dilutive grant to support this program. We have risk-weighted the potential new CVac opportunities for PRR, as well as updating our forecasts for the increased near-term R&D spend that will be required to fund these trials. Hence, our price target has decreased from AUD0.21 (from AUD0.23)."