Isotechnika "buy"

11/17/06 - Canaccord Adams

NEW YORK, November 17 (newratings.com) - Analyst Neil Maruoka of Canaccord Adams maintains his "buy" rating on Isotechnika Inc (ISA). The target price has been raised from C$3.10 to C$3.30.

In a research note published this morning, the analyst mentions that the company has recently reported interim results from its Phase IIb study of ISA247 in kidney transplantation, indicating the potential efficacy of the drug in preventing acute organ rejection. While the secondary safety endpoints are not conclusive, the drug exhibited a healthy safety profile that could be comparable to tacrolimus, the analyst says. The final results of the Phase IIb trial is crucial for Isotechnika, since Roche’s decision to choose its option for ISA247 in this indication would depend on the results, Canaccord Adams adds.