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Phosphagenics Limited – Anti-cellulite cream a step closer
 
Phosphagenics Limited (POH) announced that it has exercised its option to licence the patented weight loss compound AOD9604 to develop an anti-cellulite cream. POH plans to start human testing of the cream within the next six months, and hopes to launch the product in 3Q CY11. While this is a positive development, in our view, the TPM/oxycodone pain relief patch remains key to delivering significant value in the near term. POH is currently conducting clinical trials to identify the optimum dosing regime for the oxycodone patch. POH will delay further development of its insulin delivery patch while it focuses on the oxycodone clinical program. We now expect the insulin patch to be launched in 2015 and as a consequence, have deferred insulin milestone payments and royalties. We reduce our DCF valuation and price target to A$0.16/sh (prev A$0.17/sh) and retain our BUY recommendation.
 BBY expands into Dubai
 
In these volatile market conditions, it is important to deal with a sound and reputable broker. We at BBY have a team of highly professional and experienced analysts, sales traders and advisers that are focused on delivering superior, bankable results for our clients.
 
Since joining BBY in November 2004, it has been my goal to create a reliable, debt free and profitable business with a strong balance sheet. BBY has achieved that goal, and continues to deliver for our client’s by capitalising on the opportunities that are available.
 
We have a sensible cost structure and a lower cost base than our global competitors. This combined with our position as the leader in the middle market space*, ensures we have the right combination of liquidity and requisite experience to service our clients. *(BBY YTD market turnover AU$ 15Billion, and ranked in the top 20 for all Australian brokers- IRESS)
 
Our global sales team achieves results through an Australian focus. We believe we have the largest dedicated Australian equities sales team in New York servicing North America, alongside our strong network spanning Asia, UK, Europe, Emirates, and Australia. 

We pride ourselves on our client relationships and our ability to provide independent, insightful and strategic advice. We are consistently well regarded by our industry, as displayed by our accolades over time, this year winning “Best Corporate Deal of the Year 2008” for our Placement of Linc Energy and last year we achieved the rank of Top 10 "Best Equities Research" and Top 5 for Bloomberg Equities. BBY is dedicated to delivering sound and innovative financial services by leveraging our superior professionals’ knowledge, long-standing relationships and market expertise.

In the same way we partner with our clients to achieve better outcomes, we offer the full benefit of BBY's global partnerships to our clients. BBY enjoys a partnership with leading Asian investment bank CIMB-GK Securities Pte. Ltd. (www.cimb.com). Additionally, our clients benefit from BBY’s equity partnership with major US investment bank, Jefferies Inc. (www.jefferies.com) which provides greater access to the North American markets.
 
For further information about BBY, please see http://www.bby.com.au or
call me on +61 (0)2 9226 0032
Kind Regards,
 
About BBY 
BBY is a full service Australian stockbroking and corporate advisory firm. With offices in Sydney, Melbourne, London, Dubai and Bermuda, along with an equity partnership with US investment bank Jefferies Inc (Jefferies) and a partnership with CIMB-GK, BBY is well positioned to service its clients needs.
BBY has a reputation for providing focused, quality services, innovative solutions and high level execution for its institutional, corporate and high-net-worth clients.
BBY’s primary objective is to assist growing and mid-sized Australian companies capitalise on opportunities in a dynamic marketplace. Focusing on the middle-market, BBY is able to allocate significant resources to ensuring the best possible transaction result for clients. BBY’s long term dedication to this end of the market is strongly supported by well-regarded research and experienced corporate finance, institutional broking and asset management teams.
 
About CIMB Group 
CIMB Group is Malaysia's second largest financial services provider and one of Southeast Asia's leading universal banking groups. It offers consumer banking, investment banking, Islamic banking, asset management and insurance products and services. Headquartered in Kuala Lumpur, its key regional offices are located in Singapore, Indonesia and Thailand.
CIMB Group operates its businesses through three main brand entities, CIMB Bank, CIMB Investment Bank and CIMB Islamic. CIMB Group is also the majority shareholder of PT Bank Niaga in Indonesia.
CIMB Group is owned by Bumiputera-Commerce Holdings Bhd, which is listed on Bursa Malaysia with a market capitalization of over US10 billion. The Group has over 24,000 employees located in 11 countries.
 
About Jefferies 
Jefferies, a global investment bank and institutional securities firm, has served growing and mid-sized companies and their investors for 45 years. Headquartered in New York, with more than 25 offices around the world, Jefferies provides clients with capital markets and financial advisory services, institutional brokerage, securities research and asset management. The firm is a leading provider of trade execution in equity, high yield, convertible and international securities for institutional investors and high net worth individuals. Jefferies & Company, Inc. is the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF; www.jefferies.com)
The Sydney head office is supported by BBY's global network. We have partnerships in Asia and America and offices in Melbourne, London, Dubai and Bermuda. BBY are well placed to meet your local and global needs.  
BBY has a track record of providing bankable results you can depend upon through our corporate advisory, equity sales & research, and asset management services. 
 

BBY has been achieving consistently positive results. The preliminary Bloomberg League Tables for Q3 are no exception despite the economic climate.

- Ranked #5 for Australian & New Zealand Equity Offerings (IPO)

- No #11 for Australian & New Zealand Equity Rights Offerings

- No #13 for Australia & New Zealand Equity/Equity Linked (ALL)
 

 
 
 
 
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