Celator Pharmaceuticals Inc (NASDAQ:CPXX) Sees First Patient For CPX-351 Study, Rated Outperform


Dallas, Texas 08/20/2014 (FINANCIALSTRENDS) – Celator Pharmaceuticals Inc (NASDAQ:CPXX) the pharmaceutical company engaged in developing therapies and alternatives for cancer has moved a step further with respect to studies of its flagship drug CPX-351.

The Phase 2 studies for pharmacokinetic as well as pharmacodynamics or PK/PD for evaluating the side-effects the injection (CPX-351 Liposome Injection) with respect to cardiac repolarization in adult patients is currently underway.

In the meanwhile, analysts have begun their coverage of this pharmaceutical once again. The latest of the analysts providing coverage for Celator Pharmaceuticals is Zacks.

The analyst has reiterated it’s previous coverage of Outperform with the price target also at $7.00.

Reasons for the Outperform rating

Celator Pharmaceuticals Inc (NASDAQ:CPXX) reasoned its reiteration of the outperform rating on its pipeline. The drugs currently in its line-up are developed on the principle of CombiPlex and liposomal or nanoparticle delivery system. Additionally, the lead candidate itself is “a combination of cytarabine and daunorubicin co-encapsulated in a synergistic ratio,” the research noted. Moreover, the ongoing Phase 2 trial and is pending top line data, which is in all likeliness to be available by second-quarter of 2015.

Besides, Zacks coverage noted that, the “Fundamentals of Celator are strong and we are optimistic about the prospect of the company. We rate the shares of the company Outperform. “

Celator Pharmaceuticals Inc (NASDAQ:CPXX) following the reiteration by Zacks has been on the path to a strong performance at the stock market. The rating comes just after the announcement of the earnings result on Monday, August 11. The research note reported that the EPS for the quarter was to the tune of 40.18, which was above the estimates offered by analysts covering this stock.

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