MARKET TALK: CytoFab Delay Marginal For BTG -Ambrian

30th Jul 2010 09:19

0819 GMT [Dow Jones] A delay to development of BTG's (BGC.LN) experimental sepsis treatment CytoFab has only a marginal impact on BTG's valuation, says Ambrian analyst Chris Redhead. AstraZeneca (AZN.LN), which is developing CytoFab, said Thursday it expects to file the product for approval in 2015. It previously said it would file it in 2014. Redhead adds CytoFab is already perceived as a high risk program. Keeps buy recommendation, although notes some investors may take profits given that the stock has appreciated by around 20% since March. Sees fair value for BTG at 268p. Shares +0.1% at 215p ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 30, 2010 04:19 ET (08:19 GMT)