Can Fite Biopharma Ltd (ADR) (NYSEMKT:CANF), a biotechnology company with a pipeline of proprietary small molecule drugs that address inflammatory and cancer diseases, today announced the Company has been invited by Israel’s Office of the Chief Scientist to join a delegation comprised of Israel’s leading life sciences companies to participate in industry visits, presentation sessions, and networking events focused on finding R&D partners and business opportunities in Japan. Can-Fite’s Director of Business Development, Dr. Sari Fishman, will participate in meetings in Tokyo on July 28 through 30, 2015.
The Life Sciences Delegation is being organized under the framework of the new Japan-Israel R&D Cooperation Program, which provides funding support and partner matching assistance for collaborative R&D projects between Israeli and Japanese companies. Organizers of the delegation include the Office of the Chief Scientist and MATIMOP-The Israeli Industry Center for R&D, the Foreign Trade Administration, and the Economic Department at the Embassy of Israel in Tokyo, together with the Japanese Ministry of Economy, Trade and Industry (METI) and NEDO, the New Energy and Industrial Technology Development Organization in Japan.
“Can-Fite is honored to be invited by our Chief Scientist, Avi Hasson, to participate in this scientific and trade delegation. We are currently in due diligence talks with companies in Japan who are interested in our technologies,” stated Can-Fite CEO Dr. Pnina Fishman. “These additional meetings during the delegation visit, with some of the top companies in Japan, are intended to support our efforts to enter into an agreement with the right partner in this very significant healthcare market.” (Original Source)
Shares of Can-Fite BioPharma Ltd closed yesterday at $1.97. CANF has a 1-year high of $5.83 and a 1-year low of $1.85. The stock’s 50-day moving average is $2.18 and its 200-day moving average is $3.03.
On the ratings front, Can-Fite has been the subject of a number of recent research reports. In a report issued on June 8, H.C. Wainwright analyst Mark Breidenbach maintained a Buy rating on CANF, with a price target of $4, which implies an upside of 103.0% from current levels. Separately, on May 31, Roth Capital’s Joseph Pantginis maintained a Hold rating on the stock and has a price target of $3.30.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Mark Breidenbach and Joseph Pantginis have a total average return of -23.4% and 9.9% respectively. Breidenbach has a success rate of 0.0% and is ranked #3489 out of 3713 analysts, while Pantginis has a success rate of 51.0% and is ranked #209.
Can Fite Biofarma Ltd isa clinical stage biopharmaceutical company that develops orally bioavailable small molecule therapeutic products for the treatment of autoimmune-inflammatory, oncological and ophthalmic diseases.