Cyclacel Pharmaceuticals "buy"

12/10/07 - Cantor Fitzgerald

NEW YORK, December 10 (newratings.com) - Analyst George Zavoico of Cantor Fitzgerald maintains his "buy" rating on Cyclacel Pharmaceuticals Inc (CYCC). The target price is set to $10.50.

In a research note published this morning, the analyst mentions that the Phase I data presented by the company for its sapacitabine drug, in the treatment of advanced leukemias or myelodysplastic syndromes (MDS), reflects a marginal improvement in the response rate. Cyclacel Pharmaceuticals is expected to commence Phase II trials with 60 elder acute myeloid leukemia (AML) patients in the US and Europe, the analyst says. Cantor Fitzgerald expects the company to file an NDA for sapacitabine for the AML indication in 2009.