Analyst forecasts $2.50 EPS for Callisto Pharma

New York, USA-based Callisto Pharmaceuticals says that leading European equity analyst, Engelbert Hoermannsdorfer, has issued an independent research recommendation that predicts a potential share price of $2.50 for the firm. In addition, Mr Hoermannsdorfer forecast that the group's current market capitalization of $57.0 million could double in value if the success of its anticancer drug development program is sustained.

Callisto said that its two most advanced drug candidates, Atiprimod (azaspirane) and L-annamycin, are being examined as potential treatments for multiple myeloma and difficult-to-treat carcinoid tumors. The firm added that, in light of recent promising trial data, it intends to initiate Phase I/II trials for these and several other oncology indications in the near future.

The company added that another of its lead products, Guanilib (SP304) -which mimics a naturally-occurring hormone called uroguanylin and is intended for the treatment of gastrointestinal disease, is being advanced towards assessment in clinical trials.