Mast Therapeutics Inc (NYSEMKT:MSTX) investors cheer the news that the company’s subsidiary, Aires Pharmaceuticals, has entered into a collaborative agreement with Philips Respironics related to the supply of Philips’ I-neb® Adaptive Aersol Delivery (AAD™) devices and related consumables for the nebulized delivery of the Company’s lead product candidate, AIR001, a sodium nitrite solution for intermittent inhalation. The I-neb® handheld AAD™ system is a small, portable and virtually silent vibrating mesh technology nebulizer system designed to deliver more precise, reproducible doses of medication faster than conventional jet or ultrasonic nebulizers.
Mast Therapeutics shares reacted to the news, soaring nearly 16% in early trading Monday.
“As we announced last month, we are accelerating activities related to our AIR001 program with support for ongoing, investigator-sponsored Phase 2 clinical studies of AIR001 being conducted at three separate prestigious research institutions,” said Brian M. Culley, Chief Executive Officer of Mast. “As part of this commitment, we are pleased to be working with Philips, a recognized global leader in the development of aerosol delivery devices and a leading provider of innovative solutions for the global respiratory market. Our agreement has been extended to include not only two of the Phase 2 studies of AIR001 currently underway, but also future clinical studies and will remain in place until 2020 or sooner, if replaced with a commercial supply agreement.” (Original Source)
On the ratings front, Mast has been the subject of a number of recent research reports. In a report issued on September 27, Cowen analyst Ritu Baral downgraded MSTX to Hold. Separately, on the same day, Laidlaw’s Yale Jen maintained a Hold rating on the stock.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ritu Baral and Yale Jen have a total average return of 17.4% and 0.2% respectively. Baral has a success rate of 49% and is ranked #75 out of 4180 analysts, while Jen has a success rate of 42% and is ranked #2628.
Mast Therapeutics, Inc. is a biopharmaceutical company, which engages in developing novel therapies for serious or life-threatening diseases with significant unmet needs. It provides products MST-188 has cytoprotective and hemorheologic properties and inhibits inflammatory processes and thrombosis.