NeoPharm reiterated by Merrill at buy

NeoPharm was reiterated by Merrill Lynch analyst David Munno at a buy rating with a price target on the stock of $18 per share following news that the FDA approved an amendment to its Special Protocol Assessment for the phase III trial of IL13-PE38 to include an interim efficacy analysis of data when 160 deaths are reached. Merrill sees this development as a positive sign that survival in the IL13 arm could be longer than the 70 weeks expected. NeoPharm shares Wednesday were up $0.40, or 3.27%, at $12.63 on volume of 2,826,276 shares versus the three-month running average of 144,431 shares.

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