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Maxim Group Starts ContraFect Corporation (CFRXU) at Buy

September 8, 2014 7:42 AM EDT
Get Alerts CFRXU Hot Sheet
Price: $5.48 --0%

Rating Summary:
    1 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Maxim Group initiates coverage on ContraFect Corporation (NASDAQ: CFRXU) with a Buy rating and a price target of $16.00.

Analyst Jason Kolbert comments, "ContraFect is developing a novel therapy (CF-301) for severe blood infections that often progress to septic shock by utilizing lysins that can digest or lyse a bacterium (cell wall) on contact. If successful, lysins could create a paradigm shift in anti-infectives as a new class of antibiotics is born."

He added, "ContraFect's IND was placed on clinical hold shortly after it was filed in 1Q13, with the FDA requesting additional pre-clinical studies. Those studies are now complete, and management expects to meet with the FDA by year-end. ContraFect should be in a position to initiate trials by early 2015. The lifting of the clinical hold represents a catalyst for shareholders."

"Moving beyond Tamiflu: CF-404 is a universal antibody platform for the treatment of influenza that extends the treatment window beyond Tamiflu. An IND filing is expected by year-end 2015."

For an analyst ratings summary and ratings history on ContraFect Corporation click here. For more ratings news on ContraFect Corporation click here.

Shares of ContraFect Corporation closed at $5.47 yesterday.



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