RBC comments on Gen-Probe/DiagnoCure agreement

RBC Capital analyst William Quirk said Gen-Probe and DiagnoCure have amended their PCA3 agreement. In its investment opinion, it appears that the PMA for the PCA-3 assay may be pushed back slightly as Gen-Probe and DiagnoCure evaluate the potential inclusion of markers gained in the recent Gen-Probe/University of Michigan agreement. Gen-Probe will also outsource some of its development work on up to two markers from the Corixa deal to DiagnoCure for further development. RBC said it believes this will no minimal impact on their 2006 research and development budget. Shares of the company were up $1, or 1.89%, at $54 on volume of 424,281 shares. Three-month running averages were at 397,909. (Nasdaq: GPRO)

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