Article GOOGLE translated:
And leaves to cover the crescent began Fite "free trades core activities"
UBS Investment Bank Investment House began covering the biomedical company with a target price of 1.47 dollars - upside of 287%
Biomed company Fite BioPharma made a nice move of nearly 30% from the low point recorded by the end of December. However, evaluating investment house UBS Investment Bank, Bank Hapoalim Group, biomed company has not said the last word. Last Thursday crescent began to cover the purchase recommendation Fite and named a price of 1.47 NIS ambitious. This is a huge upside of 287% of the base price of the stock this morning.
Can-Fite, directed by Prof. Pnina Fishman, develops drugs for cancer and inflammation. Fite's technology is based on research by Professor Fishman proven resilient in relation to muscle tissue metastases. The company trades at a market value of 95.3 million and an average daily turnover of 441 thousand dollars.
The company has two main products - the molecule-CF102 CF101 and, when first developed for inflammatory diseases (psoriasis, rheumatoid arthritis, dry eye, glaucoma, etc.) and the second developed liver disease (liver cancer and hepatitis C). Analyst estimates Liat Golan book, the molecules' advantage in the form of a safety profile that is very prominent for the better - certainly in the biological drug control today. "
The investment reached the target price of the company which "is derived from a model that evaluates the value of the activity of Fite therapy areas of rheumatoid arthritis (RA), psoriasis and liver cancer, approximately $ 63 million, plus the value of the operations of the subsidiary in the eyes Ophthalix by - 52 million. "
Apart from the aforementioned valuation, investment house indicates the activity of the subsidiary Aoftlix, owned by Fite rate of 82% and traded in the U.S. OTC market value of $ 43 million. Book Golan believes that "anyone who purchases shares today Fite get Aoftlix very significant discount ranging from 55% -41%, but more importantly - get free all core activities Fite (areas of rheumatoid arthritis, psoriasis and liver cancer)" .
The company is expected to face significant events in 2013, including post Phase II trial results for the treatment of dry eye syndrome in the last quarter of the year, post the interim results of Phase ((treatment of glaucoma toward the middle of the year and completion of registration of the ADR shares on the Nasdaq under the symbol CANFY.
Assessing Book Golan, Fite "addressing markets potential target large and attractive, such as" market treatment of rheumatoid arthritis (RA) in annual sales totaling about $ 15 billion; psoriasis 3.9 billion; glaucoma 3.9 billion; liver cancer about 235 million (why fight the status of orphan drug - FDA), and dry eye about 30 million patients worldwide. "
On the negative side, Golan book marks the clinical risk characterize the Company's operations, as well as the financing needs of the company (cash burn rate of a million per quarter, cash fund of $ 1.8 million as of September 2012), when the company will need another year process of raising capital or the exercise of some of the company's operations.
Can-Fite BioPharma
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