Dutton Associates Announces Investment Opinion: Ciphergen Biosystems Initial Rating At Speculative Buy By Dutton Associates
March 28 2007 - 2:00PM
Business Wire
Dutton Associates initiates coverage of Ciphergen Biosystems
(Nasdaq:CIPH) with a Speculative Buy rating and a price target of
$2.00. The 14-page report by Dutton senior analyst Stephen L.
Handley is available at www.jmdutton.com as well as from First
Call, Bloomberg, Zacks, Reuters, Knobias, and other leading
financial portals. Ciphergen Biosystems has recently narrowed the
scope of its business to focus exclusively on developing
proprietary diagnostic tests, and we believe that this business
offers an attractive opportunity for investors. These
differentiated tests are based on combinations of protein
biomarkers, and as such are expected to be capable not only of more
clearly identifying a particular disease, but also stratifying
patients according to the risk of developing the disease and
responding to specific therapy. In brief, Ciphergen�s goal is to
identify proteins that may be useful biomarker-based diagnostic
tests with sufficient sensitivity and specificity to aid the
physician considering treatment options for patients with complex
diseases. The Company has filed about 50 patents for its novel
biomarker discovery technology, most of which have been accepted
for review, and on January 25th announced the issuance of a
European patent covering a method for aiding prostate cancer
diagnosis. Management has chosen to focus primarily in the areas on
oncology, cardiovascular disease, and women�s health in general,
and expects to file applications with the FDA during 2H 2007
covering a test for ovarian cancer and peripheral artery disease
(PAD). The Quest and Bio-Rad alliances have been transforming
events for Ciphergen, and place the Company in a position to more
fully capitalize on its decade long investment in protein-based
technology as well as on current and prospective programs conducted
with leading collaborators. About Dutton Associates Dutton
Associates is one of the largest independent investment research
firms in the U.S. Its 31 senior analysts are primarily CFAs and
have expertise in many industries. Dutton Associates provides
continuing analyst coverage of over 140 enrolled companies, and its
research, estimates, and ratings are carried in all the major
databases serving institutions and online investors. The cost of
enrollment in our one-year continuing research program is US
$39,500 prepaid for 4 Research Reports, typically published
quarterly, and requisite Research Notes. The Firm does not accept
any equity compensation. We received $39,500 from the Company for 4
quarterly Research Reports with coverage commencing on 03/28/2007.
Our principals and analysts are prohibited from owning or trading
in securities of covered companies. The views expressed in this
research report accurately reflect the analyst's personal views
about the subject securities or issuer. Neither the analyst's
compensation nor the compensation received by us is in any way
related to the specific ratings or views contained in this research
report or note. Please read full disclosures and analyst background
at www.jmdutton.com before investing.
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