Micromet's (NASDAQ:MITI) Cash Position Should Bring it Through 2013

There are some potential catalysts out there for Micromet (NASDAQ:MITI) which could help them in the short term, such as new trial initiations and ongoing trial updates. It appears they have enough capital to undergird development through 2013.

Needham said, "In the near-term, we believe that data presentations, progress update from the ongoing trials and new trial initiations may drive the stock higher: the ongoing pivotal trial is expected to take 2 years to complete enrollment. In the long-term, we favor the bispecific antibody platform (8 products in development/12 candidates in early-stage), focused on established drug targets and recruitment of the immune system, as a new and potent next-generation antibody strategy. With a projected cash burn of $55-60MM/year, we believe the Company may have sufficient resources to support clinical development until the pivotal data in 2013."

Needham & Company maintains a "Buy" rating on Micromet, which closed Wednesday at $8.29, gaining $0.18, or 2.22 percent. Needham has a price target of $13 on them.