In an Oct. 8 research note, Maxim Group analyst Jason McCarthy reported Cancer Genetics Inc. (CGIX:NASDAQ), a personalized medicine company, agreed to partner with Cellaria LLC to enhance its own diagnostic products and services in oncology. Cellaria customizes in vitro cell models to reflect the biology of patients' specific tumors.
"We see this strategic collaboration as a positive," noted McCarthy. "The combination of Cellaria's in vitro platform and Cancer Genetics' pharmacology expertise to better understand patient genetic diversity at the disease level should be synergistic and drive the development of new precision oncology models."
More specifically, these models perhaps could enable "accelerated drug development and/or assessment of response to treatment," McCarthy highlighted.
This collaboration could allow Cancer Genetics to connect with more potential biopharma partners, which is significant, McCarthy wrote, because the company is poised to partner in drug development. It has experience with, and the capability for, testing in the discovery, preclinical and clinical stages along with patient monitoring.
Maxim Group has a Hold rating on the company but no price target. Its current share price is around $0.80. "Cancer Genetics continues to implement its restructuring strategy as it looks to return to growth," McCarthy explained.[NLINSERT]
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Disclosures from Maxim Group, Cancer Genetics Inc., October 8, 2018
I, Jason McCarthy, Ph.D., attest that the views expressed in this research report accurately reflect my personal views about the subject security and issuer. Furthermore, no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report.
The research analyst(s) primarily responsible for the preparation of this research report have received compensation based upon various factors, including the firm's total revenues, a portion of which is generated by investment banking activities.
Maxim Group makes a market in Cancer Genetics, Inc.
Maxim Group received compensation for investment banking services from Cancer Genetics, Inc. in the past 12 months.
Maxim Group expects to receive or intends to seek compensation for investment banking services from Cancer Genetics, Inc. in the next 3 months.