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Pacific Growth Ups Pharmacyclics to Buy

From Standard & Poor's Equity Research

Pacific Growth upgraded Pharmacyclics (PCYC) to buy from neutral, noting that the company presented new analyses

Analyst George Wade says Dr. Minesh Mehta (Univ. Wisconsin Medical School) presented new analyses of a completed SMART trial on the company's Xcytrin Injection at a 2006 annual meeting of the American Society of Clinical Oncology. He says new analyses of the SMART trial on time to neurologic progression yields statistical significance. He also notes that the company's upgrade precedes anticipated catalysts within the coming 12 months, including the new drug application filing and its potential acceptance, among other things.

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