Oppenheimer Starts Cleveland BioLabs (CBLI) at Outperform

December 6, 2012 9:18 AM EST
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Price: $1.54 +0.65%

Rating Summary:
    4 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Oppenheimer initiates coverage on Cleveland BioLabs (NASDAQ: CBLI) with a Outperform. PT $3.00.

The firm comments, "Cleveland BioLabs is a development stage biotechnology company pursuing a broad pipeline of assets. The company's leading drug is Entolimod, which modulates apoptosis (natural cell death). This mechanism has a range of potential applications, including protecting healthy cells after injury such as radiation or oxygen deprivation, as well as a direct anti-tumor agent. Entolimod's most advanced indication is in biodefense as a therapeutic protectant following radiation exposure. The company is commencing pivotal studies, and we anticipate a BLA filing in 4Q14. Entolimod appears to be well differentiated in the biodefense application, with a significant barrier to entry for competitors."

For an analyst ratings summary and ratings history on Cleveland BioLabs click here. For more ratings news on Cleveland BioLabs click here.

Shares of Cleveland BioLabs closed at $1.40 yesterday.

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