BOCA RATON, Fla., May 22 /PRNewswire-FirstCall/ -- Dawson James Securities, a full-service investment firm serving the healthcare and biotechnology industry, reiterated their Speculative Buy recommendation on Biopure Corp. (Nasdaq: BPUR) with a 12-18 month price target of $3.00. Stephen M. Dunn, Director of Research, issued the report. The update report describes Biopure's Hemopure(R), a hemoglobin-based oxygen carrier, and the anticipated U.S. Navy IND submission to the FDA to begin the RESUS Phase II clinical trial for out-of-hospital trauma and the company's pending marketing authorization submission in the U.K. The report also highlights the significant differences between Hemopure(R) and competitor Northfield Laboratories (Nasdaq: NFLD) Polyheme(R). Additionally, the report describes the multiple ongoing European clinical trials for Hemopure(R) such as the 60-patient Phase II trial in coronary artery bypass graft (CABG) surgery, the 100-patient Phase II trial in vascular disease lower limb amputation and the Phase II trial in the Netherlands in percutaneous coronary intervention (PCI), all of which are currently enrolling. Finally, the report describes the emerging FDA safety concerns for erythropoiesis stimulating agents (ESAs) in chemotherapy-induced anemia patients such as Amgen's (NASDAQ: AMGN) Aranesp(R) and Epogen(R) as well as Johnson & Johnson's (NYSE: JNJ) Procrit(R). Mr. Dunn states "The negative issues surrounding ESAs may eventually provide a new and significant future indication for Biopure's Hemopure(R) in treating chemotherapy-induced anemia patients." He notes that total sales of ESAs in 2006, for all indications, were over $10 billion. A copy of the report may be obtained by contacting Dawson James Securities at 561-391-5555. About Dawson James Securities: Dawson James Securities is a full service investment firm with deep expertise in healthcare and biotechnology and having a staff of over 50 investment professionals providing institutional research, investment banking and high net worth services to our clients. More information is available at www.DawsonJames.com Disclosures: Dawson James has acted as an investment banker for Biopure Corp. and the Firm and/or its directors and employees may own securities in the companies and may increase or decrease holdings in the future. The analyst certifies that 1) all of the views expressed accurately reflect his personal views about any and all of the subject securities or issuers discussed; and 2) no part of the research analyst's compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed by the research analyst; 3) the analyst responsible for preparing this research report receives compensation based upon various factors, including total revenues of Dawson James and its affiliates, a portion of which is generated by investment banking activities and 4) the analyst and/or members of their immediate family do not own stock in the companies mentioned. Contact: Dawson James Securities Stephen M. Dunn, 561-208-2905 Fax: 561-391-5757 Dawson James Securities is a member of the National Association of Securities Dealers, CRD number 130645.
SOURCE Dawson James Securities