Flamel on hold by Merrill

Merrill Lynch analyst Hari Sambasivam rated Flamel Technologies SA at hold after the company's uneventful second-quarter financial results. Flamel reported a loss per share of $0.40, compared to Merrill's estimate of $0.48. According to the analyst, the results are consistent with management's goal of lowering expenses and cash use, to better match revenues from research and development deals, upfront payments and milestones. Shares of the Venissieux, France-based biopharmaceutical company were down 33 cents, or 1.89%, at $17.27, on volume of 83,796 shares versus the three-month running average of 105,634 shares. (Nasdaq: FLML)

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