Vista Partners Updates Coverage on Mast Therapeutics, Inc.; Price Target $2.25
Currently Enrolling Patients in Phase 3 Sickle Cell Clinical Trial, Phase 2 ALI Clinical Trial Scheduled to Commence in Q1 2014
SAN FRANCISCO, CA--(Marketwired - Dec 18, 2013) - Vista Partners announced today that it has updated coverage on Mast Therapeutics Inc. (NYSE MKT: MSTX) ("MSTX"), a publicly traded biopharmaceutical company headquartered in San Diego, CA, with a twelve-month price target of $2.25. Ross Silver, Principal Analyst at Vista Partners, stated, "MSTX began dosing in its pivotal Phase 3 clinical study of MST-188 (purified poloxamer 188) in sickle cell disease in May. MSTX believes that it is currently the only company with a new molecular entity in a Phase 3 clinical trial for the treatment of sickle cell disease, a disease with significant unmet needs and which has been experiencing unprecedented interest from strategic partners, acquisition oriented suitors, and financial investors." Mr. Silver continued, "MSTX plans to develop MST-188 in complications of arterial disease, initially as an adjunct to thrombolytics in acute limb ischemia (ALI), a complication of peripheral arterial disease. Peripheral arterial disease affects an estimated 8 to 12 million people in the United States. The planned Phase 2 trial in ALI is scheduled to commence in the first quarter of 2014." Mr. Silver concludes, "MSTX anticipates that cash as of September 30, 2013 or $0.48/share, should be sufficient to fully fund all planned clinical trials."
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