H.C. Wainwright has assumed coverage of DURECT (NASDAQ:DRRX) with a “buy” rating and $3 price target. The stock was quoted at $1.02 in afternoon trading on Feb. 28.Read More
Maxim Group initiated coverage of Mateon Therapeutics (OTCQX:MATN) with a “buy” rating and 12-month price target of $2. The stock was quoted at 42 cents at midday on Jan. 27Read More
The U.S. Patent and Trademark Office has issued a patent to Mateon Therapeutics (NASDAQ:MATN) and Baylor University that covers compounds which modulate cathepsin activity, particularly cathepsin L or cathepsin K, and methods of using these compounds for the treatment of conditions in which their regulation may be therapeutically useful.
In a statement, Dr. William Schwieterman, president and CEO of Mateon, said that for the past few years, the company has been working with Baylor University to pursue discovery and development of novel, small-molecule therapeutics that may be effective in oncology indications, and “we are continuing several interesting, early-stage opportunities in this field.”Read More