Monday, March 24, 2014

Celator Pharma announces earnings after hours

Celator (CPXX) announced year end 2013 and Q4 2013 earnings after the market closed today.  I listened on the call and have the following updates.

-  The company has a phase 3 trial enrolling in their lead agent CPX351 in secondary AML and expects enrollment to be completed by the end of the year.  They already have over 50% of planned enrollment completed in the targeted enrollment of 300 in the 41 sites currently active. 

-  Overall survival is expected in the beginning of 2016.  

-  They have a number of IST's (investigator sponsored trials) ongoing throughout the US including Fred Hutchinson in Seattle and Cincinnati Children's Hospital.  

-  The company has an extremely low market cap of only $86 million for a company with a phase 3 candidate.

-  It's one of the few biotech's trading near a 52 week low. 

I feel like Celator has a great risk vs. reward profile between it's $86 million market cap and phase 3 trial in secondary AML  I currently own 3,000 shares of Celator and may add to my position leading into the full enrollment of the phase 3 trial and top line results. 

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