Celator Pharmaceuticals Inc (NASDAQ:CPXX) announced that data for VYXEOS™ (cytarabine:daunorubicin) Liposome for Injection (also known as CPX-351), its lead product candidate, will be presented at the American Association for Cancer Research (AACR) Annual Meeting in New Orleans, LA, April 16-20, 2016.
The research was conducted in the laboratory of Dr. Jeffrey Tyner at Oregon Health & Science University. The objective of the research was to examine the ex vivo sensitivity of acute myeloid leukemia (AML) cells derived from newly diagnosed patients to VYXEOS. This work supports the observed clinical benefit of VYXEOS in high-risk AML patients and may provide a means of identifying patient genotypes/phenotypes most sensitive to VYXEOS.
“We continue to learn more about the unique activity of VYXEOS in AML and enhance our ability to match this performance with specific patient characteristics that could be predictive of improved outcomes,” said Lawrence Mayer, Ph.D., President and Chief Scientific Officer at Celator. “The research being undertaken by Dr. Tyner reflects Celator’s goal to elucidate the clinical benefits of VYXEOS by expanding our scientific understanding of its mechanism of action, particularly in AML cells with important molecular phenotypes.” (Original Source)
Shares of Celator Pharmaceuticals closed last Friday at $15.05, up $1.05 or 7.50%. CPXX has a 1-year high of $15.31 and a 1-year low of $1.12. The stock’s 50-day moving average is $8.37 and its 200-day moving average is $3.34.
On the ratings front, Celator has been the subject of a number of recent research reports. In a report issued on April 12, Roth Capital analyst Joseph Pantginis reiterated a Buy rating on CPXX, with a price target of $22, which implies an upside of 46.2% from current levels. Separately, on April 11, Needham’s Chad Messer initiated coverage with a Buy rating on the stock and has a price target of $24.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Joseph Pantginis and Chad Messer have a total average return of 0.8% and -9.0% respectively. Pantginis has a success rate of 38.7% and is ranked #1445 out of 3795 analysts, while Messer has a success rate of 32.7% and is ranked #3653.
Celator Pharmaceuticals, Inc. is a clinical-stage company, which engages in the research and development of biopharmaceutical products. It intends to provide chemotherapies and molecularly targeted agents to deliver anti-cancer activity and enhance treatment outcomes for cancer patients. It operates under the CombiPlex platform. Its products include VYXEOS, CPX-1, and CPX-8. The company was founded by Lawrence David Mayer and Marcel B. Bally in 1999 and is headquartered in Ewing, NJ.