UPDATE: Dawson James Initiates Celsion at Market Outperform on Phase III Catalyst
Dawson James initiated coverage on Celsion (NASDAQ: CLSN) with a Market Outperform rating and a $9 price target.
Dawson James said, "In our opinion, should the HEAT trial read out positively as we expect, it will not only be viewed by investors as a validation of the market opportunity for ThermoDox, but for the entire clinical development strategy across multiple tumor types with significant commercial potential. It is worth noting that CLSN owns all the worldwide rights to ThermoDox with the exception of Japan. A future corporate collaboration could be yet another material value-driver in a reasonable (12-18 month) investment time horizon."
Celsion closed at $6.66 on Monday.
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