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 BBY Brief Thought
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.
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BBY’s analysts provide market-leading, independent research. Research reports are based on in-depth qualitative research which integrates field analysis, due diligence and ongoing dialogue with the management of the companies covered in the following sectors: 

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To access the list of stocks covered by our analysts, click here.

 

  % BBY Coverage    No. stocks

S&P/ASX50

 

   11%

8

S&P/ASX100 

 

  11%

8

S&P/ASX200

 

   33%

24

S&P/ASX300

 

   14%

10

ALL ORDS

 

   14%

10

S&P/ASX 
300 - 500
 

 

   17%

12

  COVERED  STOCKS

72

  MONITORED ONLY

104

  Total

176

  

   
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