Celator Pharmaceuticals Inc (NASDAQ:CPXX) announced that it was given a notice of allowance of claims by the United States Patent and Trademark Office for the patent “Compositions for Delivery of Drug Combinations.” This patent covers the Company’s proprietary CombiPlex technology, and the allowed claims increase the scope of drug delivery vehicles covered by the patent.
Celator recently announced the successful application of its proprietary CombiPlex technology to drug combinations incorporating molecularly targeted agents (MTAs), where marked improvements in pharmacokinetics, tolerability, efficacy and drug ratio-dependent efficacy were achieved. The chemical features of many MTAs require drug carriers capable of co-encapsulating hydrophobic drugs, and the allowed claims now broadly cover micelles, polymer nanoparticles, polymer microparticles, polymer-lipid hybrid systems and derivatized single chain polymers. These types of drug carriers are often used to encapsulate hydrophobic drugs for systemic delivery.
“This is an important development for our CombiPlex platform,” said Dr. Lawrence Mayer, president and chief scientific officer at Celator. “The repertoire of drug carriers now covered by the patent claims, positions Celator for leadership in a space where evidence is mounting that improved delivery of MTA combinations could overcome significant challenges experienced with conventional formulations of these agents. We expect this will strengthen our ability to pursue R&D collaborations with biopharmaceutical companies.” (Original Source)
Shares of Celator Pharmaceuticals closed yesterday at $1.69. CPXX has a 1-year high of $3.53 and a 1-year low of $1.58. The stock’s 50-day moving average is $1.74 and its 200-day moving average is $2.13.
On the ratings front, Celator has been the subject of a number of recent research reports. In a report issued on September 24, Roth Capital analyst Joseph Pantginis maintained a Buy rating on CPXX, with a price target of $18, which represents a potential upside of 965.1% from where the stock is currently trading. Separately, on August 12, FBR’s Thomas Yip maintained a Buy rating on the stock and has a price target of $6.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Joseph Pantginis and Thomas Yip have a total average return of -3.9% and -5.6% respectively. Pantginis has a success rate of 36.5% and is ranked #3715 out of 3855 analysts, while Yip has a success rate of 42.9% and is ranked #3310.