CSFB Initiates Kosan With Outperform

Analyst Michele Park notes potential for the development-stage biotech company with over $200 million market cap

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.

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