Alizyme retained at buy by Merrill

Merrill Lynch analyst Erica Whittaker kept Alizyme at a buy rating and 175p price target after the company reported a lower-than-expected loss and cash burn for the first half of the year. While the company stated its will have enough cash to fund operations through to the end of 2007, Alizyme does not plan to start any clinical trials beyond those already in progress, at least until partners are secured for the company's products. This includes the phase 3 program for the obesity drug cetilistat, which Alizyme said requires a partner for funding. Shares of the Cambridge, England-based medical device company were up 3.50p, or 3.72%, at 97.50p. (London: AZM)

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