Pharmacyclics, Inc. Rated "Buy," Good news for AtheroNova; $AHRO
AtheroNova (OTC:AHRO) is an early stage biotech company focused on the discovery, research, development and licensing of novel compounds designed to reduce or eliminate atherosclerotic plaque deposits. AtheroNova has developed intellectual property for a class of compounds that have the potential to significantly reduce the incidence and severity of atherosclerosis.
Another company developing products to improve upon therapeutics approaches to atherosclerosis, Pharmacyclics, Inc. (NASDAQ: PCYC), was recently reiterated as a “Buy” rating by Needham & Company, LLC, a firm focused on emerging growth companies in technology, biotechnology and life sciences. Needham assigned Pharmacyclics a price target of $32, an upgrade from a previous price target of $23. Read more at GainersToday.com.
As both companies are conducting similar work, this news bodes well for AtheroNova. AtheroNova recently announced that "it has signed an agreement with Frontage Laboratories, Inc. to commence work on the formulation, compounding and tabletization of the Company's AHRO-001 product in advance of the upcoming Phase I human clinical studies. [Frontage] will immediately commence work on the analysis, formulation and validation of the various processes and procedures for manufacturing AHRO-001 tablets." Read more about the agreement at PharmaLive.com.
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