QLT at neutral by Merrill

QLT Inc. was rated at neutral by Merrill Lynch analyst Hari Sambasivam on news that the company is delaying its phase 2a study of octreotide for the treatment of acromegaly until at least the second quarter of 2007. It's unclear whether the development program for octreotide in carcinoid tumors is affected by the delay. Merrill believes any negative reaction to this news will be modest, as focus remains on Visudyne. Shares of the Vancouver, B.C., biopharmaceutical company were up 3 cents, or 0.39%, at $7.67 on volume of 1,241,880 shares versus the three-month running average of 1,336,500 shares. (Nasdaq: QLTI)

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