Merrill keeps NeoPharm at buy

Merrill Lynch analyst David Munno maintained NeoPharm, Inc. at a buy rating on what is considered a non-eventful quarter. The company has recently broadened its cost restructuring and reprioritized its pipeline. The IL13 trial was not affected by departure of NeoPharm's chief executive officer. While the outcome of the IL13 trials remains the only important near-term driver for the company, Merrill does not believe the liposomal program can resurrect the company. Shares of the Lake Forest, Ill., biopharmaceutical company were down 5 cents or 0.66%, at $7.49 on volume of 246,257 shares versus the three-month running average of 284,095 shares. (Nasdaq: NEOL)

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