Roth Affirms Can-Fite BioPharma (CANF) at 'Buy' Following Q3 Results; Still Sees FY15 as 'Breakout' Year

Roth Capital affirms Can-Fite BioPharma Ltd. (AMEX: CANF) at Buy with a price target of $28 following Q314 results reported earlier.

Analyst Joseph Pantginis noted that Can-Fite reported Q3 loss of NIS0.28 per share, versus his estimated loss of NIS0.42 per share. Can-Fite also ended the quarter with $4.12 million in cash.

Pantginis continued, As we have previously highlighted, we believe CANF is poised for a potential breakout year in 2015 with anticipated data catalysts. We also believe these data catalysts could move a potential partnership for CF101 across the goal line. We also believe that today's independent data supporting the use of CF101 for neuropathic pain continues to expand the potential profile of the drug. This profile is led by the potential of being able to prospectively define patients for responses (a first), as was seen in the positive randomized Phase II RA study. A patent for the use of the A3AR biomarker for diagnoses has been previously issued. Looking to broaden the potential for CF101, we expect Phase II/III data from the psoriasis study in ~300 patients in 1Q15. Recall we already received a positive interim analysis for the first 100 patients. With randomized Phase II RA data in hand and psoriasis data coming shortly we believe the company is also poised for a significant partnership. The company has stated that it has been under CDA with multiple companies for a potential CF101 deal for some time now. We believe the psoriasis data could represent the final catalyst in signing the deal as it would emphasize the potential of CF101 in multiple indications.

For an analyst ratings summary and ratings history on Can-Fite BioPharma click here. For more ratings news on Can-Fite BioPharma click here.

Can-Fite BioPharma closed at $4.10 yesterday.

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