IXICO (LON:IXI) - Commercial formulation required

Thursday, Aug 16 2012 by

Aug 16th 2012 - Edison Investment Research today published a report on IXICO (IXI.L, LSE:IXI, LON:IXI) entitled "Commercial Formulation Required". In summary, the report says:

Phytopharm is seeking to strengthen its partnering package for its Parkinson’s disease candidate Cogane with the start of an important Phase I bioavailability study with solid dose capsule formulations. Results by end 2012/early 2013 are significant to making Cogane, currently being tested as a slightly less convenient liquid formulation, more commercially viable and attractive to potential partners. However, Cogane’s true magnetism is ultimately dependent on top-line results in February 2013 from the Confident-PD Phase II study, a binary event for Phytopharm. We maintain our rNPV of £48m while noting that success in both trials and securing a partner would raise our valuation to £83m.




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