Telik reiterated at sell by Merrill

Merrill Lynch analyst Eric Ende reiterated Telik Inc. at a sell. The company has reached the prespecified number of events for the Assist-1 trial in platinum resistant and refractory ovarian cancer patients, triggering analysis of the data. Assist-2 has also reached the prespecified number of events and analysis data is expected by mid-November. The analyst believes the trial designs of Assist 2 and 3 are flawed and that there is a low likelihood of success for Assist 1 and 2. Shares of the Palo Alto, Calif.-based biopharmaceutical company were up 38 cents, or 2.23%, at $17.41. (Nasdaq: TELK)

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