SAN FRANCISCO, CA--(Marketwired - February 28, 2014) - Vista Partners
announced today that it has updated coverage on Mast Therapeutics Inc.
(NYSE MKT: MSTX
) ("MSTX"), a publicly traded biopharmaceutical company headquartered in San Diego, CA; and maintains its twelve-month price target of $2.25. Ross Silver, Principal Analyst at Vista Partners, stated, "There has been considerable partnership and M&A activity for companies working on Sickle Cell Disease. On Sept. 19th, 2012
, Selexys Pharmaceuticals, Corp. entered into an agreement with Novartis Pharmaceuticals, the agreement with Novartis could reach up to $665 million. In October 2011, Pfizer signed a licensing deal with U.S. firm GlycoMimetics
which may be worth up to $340 million, including an upfront payment as well as development, regulatory, and commercial milestones, plus royalties." Mr. Silver, concludes, "GlycoMimetics (NASDAQ: GLYC
), the first biotech IPO of 2014, currently trades at a market cap of around $225M whereas MSTX is around $85M. GlycoMimetics has only completed a Phase 2 trial whereas MSTX is actively enrolling patients in a Phase 3 trial."
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