SciClone reiterated by Jefferies at hold

SciClone Pharmaceuticals Inc. was reiterated by Jefferies & Co. Inc. analyst Adam A. Walsh at hold rating and a $2.50 price target after the company reported positive data from its Zadaxin phase 2 proof-of-concept study in liver cancer. The results were promising, yet early, and the trial was small. Even though Zadaxin triple-therapy hepatitis C and phase 2 malignant melanoma trials are ongoing in Europe, Jefferies said it views a Zadaxin partnership as unlikely. Shares of the San Mateo, Calif., biopharmaceutical company were up 15 cents, or 6.67%, at $2.40 on volume of 2,153,537 shares versus the three-month running average of 560,920 shares.

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