UPDATE: H.C. Wainwright & Co. Initiates Coverage on OXiGENE on Anticipated Major Catalysts

In a report published Tuesday, H.C. Wainwright & Co. analyst George B. Zavoico initiated coverage on OXiGENE (NASDAQ: OXGN) with a Buy rating and $7.50 price target.

In the report, H.C. Wainwright & Co. noted, “We are initiating coverage of OXiGENE with a BUY recommendation and a $7.50 one-year price target. We anticipate major catalysts from leading drug candidate Zybrestat to attract investors before year-end: details of the positive median progression-free survival (mPFS) results from a Phase II ovarian cancer trial could lead to a registrational Phase II/III trial in 2015, and guidance from the EMA on a registration pathway under an Exceptional Circumstances provision in anaplastic thyroid cancer (ATC) could lead to an MAA filing in early 2016.”

OXiGENE closed on Monday at $2.98.