Novadaq SPY deliveries to triple in second quarter

Novadaq Technologies (TSX:NDQ) expects to deliver about 70 of its SPY surgical imaging systems in the current second quarter, compared with 20 installations by its two partners in the first three months of 2011. The SPY fluorescence imaging system allows surgeons to intra-operatively capture, view and archive high quality image sequences of blood flow in [...]

Dundee ends research coverage of biotech, tech

Dundee Capital Markets has ended research coverage of the biotechnology and technology sectors in the wake of Bank of Nova Scotia’s deal to acquire parent DundeeWealth, which also operates a major money management division. The move affects long-time biotech analysts David Martin and James Kao. As part of the transaction with Scotiabank, DundeeWealth is spinning [...]

Dundee calls Neptune new idea of interest

Dundee Capital Markets is highlighting Neptune Technologies and Bioressources (TSX-V:NTB; NASDAQ:NEPT) as a “new idea of interest,” with a “buy, speculative risk” rating, but no price target. Analyst David Martin writes that head-to-head data reported on Thursday by Neptune’s Acasti Pharma unit, comparing its CaPre fish oil against FDA-approved Lovaza, provides an “additional level of validation [...]

Prescription for growth

We, at biotuesdays.com, attended Dundee Capital Markets’ second emerging growth conference last week, where over 20 technology, life sciences and industrial growth companies presented. Dundee specializes in early-stage growth, and to say that the one-day showcase was jammed full of investment ideas is a bit of understatement. Here’s a sampling of what we took away [...]

Dundee mulls the good and bad of Resverlogix’s Phase 2b Results

Following a sweeping sell off in Resverlogix (TSX:RVX) on Phase 2b clinical results with its RVX-208 cholesterol drug, Dundee Securities is sticking with its “buy, venture risk” rating, but with “increased caution” on the stock. Dundee doesn’t have a target price on the stock, which plummeted $1.89 just before the close on Tuesday and tumbled [...]

Dundee upgrades YM to “buy, venture risk”

Dundee Securities has upgraded YM BioSciences (TSX:YM; Amex:YMI) to “buy, venture risk” from “under review” based on the growing focus of JAK-1/2 inhibitors and the potential that may exist to differentiate YM’s CYT387 drug candidate in the space. Analyst David Martin writes that YM’s release of early data this week “suggests that CYT387 may provide [...]

Protox gets credibility boost from Warburg Pincus

An equity injection of up to $35 million from private equity giant Warburg Pincus represents a huge vote of confidence in Protox Therapeutics (TSX:PRX) and its lead PRX302 drug for enlarged prostate or benign prostatic hyperplasia (BPH), with the drug potentially able to target two other diseases: prostate cancer and prostatitis. “We went through an [...]

Analysts cut Cardiome price target

Versant Partners and Dundee Securities have lowered their price targets on Cardiome Pharma (TSX:COM; NASDAQ:CRME) after it and partner Astellas Pharma halted a 470-patient Phase 3 trial testing an IV formulation of vernakalant or Kynapid for rapid-onset atrial fibrillation. Versant Partners analyst Doug Loe writes that the decision was “clearly disappointing because halting (the trial) [...]

Dundee selects Novadaq as top pick

Calling Novadaq Technologies (TSX:NDQ) its “top pick” in the healthcare sector, Dundee Securities analyst David Martin figures the medical devices company can “at least triple revenues by 2012.” He rates the stock a “buy, speculative risk,” with a 12-month price target of $7.10. The stock closed at $3.50 on Friday, with a 12-month trading range [...]

Encouraging incremental data by Canadians at ASCO

Dundee Securities summed up some of the Canadian data presented at this year’s clinical oncology conference by AEterna Zentaris (NASDAQ:AEZS; TSX:AEZ), OncoGenex (NASDAQ:OGXI), Tekmira (TSX:TKM) and MethylGene (TSX:MYG) as “encouraging, but mainly incremental.” Nevertheless, analyst David Martin downgraded MethylGene to “neutral” from “buy,” without a price target. While he called data from the company’s MGCD265 [...]

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