Mateon Therapeutics Inc Gets a Buy from Maxim Group

By Austin Angelo

In a report released today, Gabrielle Zhou from Maxim Group reiterated a Buy rating on Mateon Therapeutics Inc (NASDAQ: MATN), with a price target of $2. The company’s shares opened today at $0.76.

Zhou said:

“Mateon announced the results of the first interim analysis (FOCUS study) of lead combretastatin, CA4P, in platinum resistant ovarian cancer, demonstrating a positive safety profile, as well as early signs of efficacy.”

According to TipRanks.com, Zhou is a 1-star analyst with an average return of -1.2% and a 33.3% success rate. Zhou covers the Healthcare sector, focusing on stocks such as ContraVir Pharmaceuticals Inc, Sciclone Pharmaceuticals, and CASI Pharmaceuticals.

Mateon Therapeutics Inc has an analyst consensus of Moderate Buy.

Based on Mateon Therapeutics Inc’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $0 and GAAP net loss of $3.45 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $3.33 million.

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Mateon Therapeutics, Inc. is a biopharmaceutical company, which focus on the development of vascular disrupting agents, or VDAs, for the treatment of cancer. It products include VDAs-CA4P and OXi4503. The company was founded in 1988 and is headquartered in South San Francisco, CA.