Taken from http://www.optuszoo.com.au/news/business/perth-now/best-speculative-market-buys/369473
Phylogica (PYC) - Buy PYC announced recently an extension of its collaboration with Roche relating to cell penetrating peptides derived from Phylogica?s Phylomer drug discovery platform. PYC has indicated that between now and the end of calendar year 2011, it intends to sign two extensions from existing relationships and three new collaborations with the top 10 pharmaceutical companies. To date, PYC has collaborations with Pfizer, Roche and AstraZeneca. At current prices this provides 25 per cent upside to the target. The target has been set as a short-term target and is expected to be exceed on announcements of additional collaborations. We have valued PYC at 8.5c.
*DISCLOSURE - RBS Morgans Corporate Limited was a joint lead manager to the Phylogica Ltd share placement in March 2011 and received fees in this regard.
PYC Price at posting:
6.7¢ Sentiment: Buy Disclosure: Held
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