Zacks Investment Research upgraded shares of EpiCept Corp (EPCT) from NEUTRAL to OUTPERFORM on December 14, 2012, with a target price of $0.45.
EpiCept will merge with private Immune to create a public company. The combined company will have a strong pipeline focused on antibody therapeutics and antibody drug conjugate (ADC) drugs for inflammatory diseases and cancers. Lead candidate Bertilimumab is already in Phase II clinical trials for ulcerative colitis. Another key platform of the combined company is next generation of antibody drug conjugate technology NanomAbs, which holds many advantages over existing ADC technologies. The merger creates value for shareholders and we move to Outperform.
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