Telik reiterated at sell by Merrill

Merrill Lynch analyst Eric Ende reiterated Telik Inc. at sell following the company's second-quarter results, considered a non-event. Telik reiterated 2006 expense guidance of $115 million to $120 million. The company continues to delay Assist-2 data release even though the required number of deaths to trigger analysis has been reached. Shares of the Palo Alto, Calif.-based biopharmaceutical company were down 19 cents, or 1.15%, at $16.35, on volume of 563,367 shares versus the three-month running average of 614,800 shares. (Nasdaq: TELK)

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