JMP reiterated Oscient at strong buy

Oscient Pharmaceuticals Corp. was reiterated at strong buy by JMP Securities analyst Adam Cutler after the company terminated its Testim co-promotion agreement with Auxilium to focus attention on its newly acquired Antara and Factive, especially as the respiratory season approaches. Oscient will receive a $1.8 million payment from Auxilium in addition to its share of Testim profits through August 31. JMP removed Testim revenue from its model starting in the fourth quarter. Shares of the Waltham, Mass., biopharmaceutical company were down 2 cents, or 1.67%, at $1.18 on volume of 1,173,004 shares versus the three-month running average of 568,732 shares. (Nasdaq: OSCI)

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