CS First Boston initiates Kosan Biosciences (KOSN ) coverage with outperform.
Analyst Michele Park says the company has two first-in-class anti-cancer drugs in Phase 1 and 2 trials in multiple settings. It is in a partnership with Roche to develop and commercialize its lead candidate KOS-862 (Epothiline D) in oncology, a proprietary polyketide drug discovery platform.
She notes all this potential for the development-stage company with over $200 million in market capitalization. She says KOS-862 is in two Phase 2 trials in second-line breast cancer and prostate cancer, and in many dose-escalating Phase 1b combination trials.
Park expects data from these studies to create positive catalysts for Kosan throughout 2005.