After Cyclacel Pharmaceuticals Inc. (CYCC) released its 2Q 2016 financial results and issued some operational updates, some traders have been accumulating this compelling stock that is at the moment flying under the radar.
Some analysts who are bullish on Cyclacel Pharmaceuticals Inc. have maintained their buy rating on the stock and set a $60 price estimate on the stock as well.
The reason for the optimism is predicated on the pending readout of a study of Cyclacel’s SEAMLESS Phase 3 study on elderly patients with acute myeloid leukemia (AML).
Patients being targeted in the SEAMLESS study are those who are not fit for induction therapy. Cyclacel said that preparation for final analysis of the study data is underway.
Being a micro cap stock, not many investors have so far shown great interest in the stock. But after the pending data readout, the story could change.
Once the analysis of the SEAMLESS data is completed, Cyclacel plans to report the outcome of the primary and secondary endpoints to the regulators in the U.S. and Europe.
Other than AML, Cyclacel is running other clinical programs and investor attention will turn to those programs after the company releases the SEAMLESS data.
Cyclacel Pharmaceuticals, Inc. operates in the field of cell cycle biology. The company has generated various families of anticancer drugs that act on the cell cycle, including nucleoside analogs, cyclin dependent kinase (CDK) inhibitors, polo-like kinase (PLK) inhibitors and Aurora Kinase/vascular endothelial growth factor receptor (AK/VEGFR) inhibitors. Its family of anticancer drugs that act on the cell cycle include sapacitabine, seliciclib and CYC065. Its lead candidate, sapacitabine, is an orally available nucleoside analog. A number of nucleoside drugs, such as gemcitabine and cytarabine, also known as Ara-C, both generic drugs, are in use as conventional chemotherapies. Seliciclib, its lead CDK inhibitor, is an oral inhibitor of CDK2/9 enzymes that are central to the process of cell division and cell cycle control. Its second-generation CDK inhibitor, CYC065, is an inhibitor of CDKs targeting CDK2/9 enzymes with utility in both hematological malignancies and solid tumors.
CYCC stock has been a juggernaut since bottoming at .30 a share this past May. As of Wednesday, 8/17 it sits over $8 per share! The next resistance area is $10 which was providing support until mid 2011.
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