SOURCE: Vista Partners LLC
SAN FRANCISCO, CA--(Marketwired - Jul 18, 2013) - 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; with a twelve-month price target of $2.25. Ross Silver, Principal Analyst at Vista Partners, stated, "MSTX completed an underwritten public offering in June with institutional investors that include Franklin Resources (BEN), Deerfield Capital Management & others that collectively own approximately 50% of MSTX post the offering. Attracting these prestigious investors to fully fund their Phase 3 sickle cell trial is encouraging." Mr. Silver continued, "Per the first quarter earnings release on May 15, 2013; MSTX has opened more than a dozen clinical sites in EPIC and is on track to meet its goal of opening approximately 40 U.S. sites by year-end. MSTX plans to support U.S. enrollment by opening roughly 30 sites outside the U.S., beginning early next year. MSTX remains the only company with a new drug in phase 3 development in sickle cell disease and investigators have been enthusiastic about the potential for MST-188 to become the first agent approved to treat an on-going vaso-occlusive crisis of sickle cell disease. Mr. Silver concluded, "MSTX also plans to develop MST-188 in complications of arterial disease, initially as an adjunct to thrombolytics in acute limb ischemia (ALI), a complication of peripheral arterial disease. Peripheral arterial disease affects an estimated 8 to 12 million people in the United States."
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