Cantor Fitzgerald Maintains Buy on Oncothyreon; Phase III Start Trial Continues to Endpoint

Cantor Fitzgerald has published a research report on Oncothyreon

commenting on talks that the START trial, Oncothyreon's Phase III cancer trial, will continue to its endpoint. In the report, Cantor Fitzgerald writes, "Though the shares are under heavy pressure this morning on this news, this was our expectation, as we have believed that the most likely outcome is for the trial to finish rather than stop early for either positive efficacy or futility. Oncothyreon was notified by Merck KGaA, its licensing partner. With the trial running to its pre-specified endpoint, based on events, the trial could wrap up by the end of this year with data in 2013. With the second interim analysis completed, the futility possibility is essentially removed as a potential outcome, and is a positive de-risking factor." Cantor Fitzgerald maintains its Buy rating and $11 price target on Oncothyreon, which is currently trading down $2.91 from yesterday's $8.41 closing price.