Consolidation along with a technical correction occurred Tuesday afternoon in CYCC shares putting a damper on buying enthusiasm however look for that enthusiasm to return on Wednesday with renewed vigor and a potential break of the old 52 week high.
Results of the much anticipated Sapacitabine trial are do to be released on Decemeber 9 (Sunday) this week. Those who are going to hold (investors) rather than (traders) will reap the real spoils here come Monday morning as they awaken to a new share price based on the data release.
A surprise buyout could occur here though... CELG or anyone else will end up paying much more per share if they wait till the data release.
Sapacitabine has shown superior to Gemcitabine (marketed as Gemzar by Eli Lilly) in delaying the onset and growth of liver metastasis.
In February, Cyclacel reported positive results for the second stage trial of its acute myeloid leukemia drug, indicating the company can provide for an unmet medical need: cancer treatment.
For this reason the stock is rated with this review: MARKET OUTPERFORM price target $25
Investors who use due diligence and fact checking will probably agree with this review.