Merrilll keeps QLT at neutral

QLT Inc. was kept at is neutral rating by Merrill Lynch analyst Hari Sambasivam. The company announced that its phase 2 trial of Lemuteporfin photodynamic therapy for the treatment of benign prostatic hyperplasia failed to show a statistical improvement (vs. sham injection) at the primary endpoint at three months. Management indicated that it will analyze the data at the six-month endpoint, but that the data to this point does not warrant continuation into phase 3 studies. Shares of the Vancouver, B.C., biopharmaceutical company were down 23 cents, or 3.41%, at $6.52 on volume of 3,099,966 shares versus the three-month running average of 1,251,520 shares. (Nasdaq: QLT)

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