Feb 18th 2013 - Edison Investment Research today published a report on IXICO (IXI.L, LSE:IXI, LON:IXI) entitled "Cogane Fails Key Test". In summary, the report says:
Phytopharm’s binary event has not gone well with the failure of Cogane to meet the primary or any secondary endpoints in its Confident-PD study in early-stage Parkinson’s disease. Cogane’s future now looks bleak – we do not view potential development for amyotrophic lateral sclerosis (ALS) as viable – and we are not surprised the stock is trading close to Phytopharm’s £5.5m cash balance. The company is conducting a strategic review and we believe the best outcome may be a reverse merger by a private company seeking to utilise Phytopharm’s cash, LSE listing and £55m in accumulated tax losses.
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