Analysts update Alizyme
This article was originally published in Scrip
Executive Summary
Piper Jaffrayanalysts have updated their forecast for Alizymeafter the company's second-half loss far exceeded expectations. Alizyme's net loss was £8.9 million, significantly higher than the £3.6 million predicted by the analysts (ScripOnline, September 1st, 2008). They reiterated their neutral recommendation as Alizyme ended the period with £7.7 million in cash, only slightly lower than their prediction of £8.4 million. However, the analysts reduced their price target from 10.1p to 8.1p and their forecast for Alizyme's year-end cash from £6.4 million to £2.6 million. Barring any further cost surprises, this should be enough to last the company until the end of next year, says Piper Jaffray.