Genaera's Potent Drug Combo

摘要

Genaera (GENR) may be one of the most ignored biotechs around. AstraZeneca is its partner on a drug for asthma that's in phase II trials, but Genaera's stock has slid to 2.20, down from 3.78 in April. "We can't understand why," says CEO Jack Armstrong, who owns 21%. Genaera is also developing a drug for obesity and diabetes, Early data from its phase I trials showed it "achieved its primary goal of establishing safety and tolerability," says Rahul Jasuja of MDB Capital Group, who rates the stock a buy with a 12-month target of 4. The drug is "an attractive therapeutic target for obesity and type-2 diabetes as it controls appetiternand insulin levels," he says. Elemer Piros of Rodman & Renshaw, who rates Genaera outperform, with a higher target of 8, says its asthma drug will vie with Genen-tech's Xolair, whose 2006 sales hit $425 million.