MARKET TALK: FinnCap Cuts BTG To Hold On CytoFab Delay

29th Jul 2010 15:17

1417 GMT [Dow Jones] FinnCap downgrades BTG PLC (BGC.LN) to hold from buy after AstraZeneca PLC (AZN.LN) puts back development of sepsis treatment CytoFab by a year. AstraZeneca says Thursday it expects to file CytoFab for marketing approval in 2015. It previously said it would be filed in 2014, says Redpath. The move will delay milestone and royalty payments due to BTG, he adds. Cuts price target to 230p from 250p. Shares +1.2% at 218p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 29, 2010 10:17 ET (14:17 GMT)

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