EL DORADO HILLS, Calif.--(BUSINESS WIRE)--Feb. 1, 2006--
Dutton Associates continues its coverage of CytoGenix (Nasdaq:DRAX), maintaining its Speculative Buy rating and increasing its target price to $1.40. The 8-page report by Dutton senior analyst William R. Prather, R.Ph., M.D., is available at www.jmdutton.com, as well as from First Call, Bloomberg, Zacks, Reuters, Knobias and other leading financial portals.
CytoGenix, Inc. recently exceeded our price target of $0.90 per share and has appreciated approximately 80% since our new analytical coverage was initiated in April 2005. Despite this increase in valuation, we are reiterating our rating of Speculative Buy on the common stock of CytoGenix because we believe the Company is steadily making progress in developing their cell-free DNA plasmid manufacturing business. They are also validating that the resultant synthetic DNA product from this process, termed synDNA™, can be successful and possibly superior in manufacturing DNA vaccines and other therapeutics. CytoGenix is now developing a "Rapid Response Vaccine Development Program" using their synDNA™ to target pathogens such as the H5N1 avian flu, smallpox and other infectious diseases. Additionally, the Company has recently announced a collaboration with the Fast Trak BioDefense Group of GE Healthcare, a unit of General Electric Company (NYSE: GE $32.93), with what we believe is the first of several collaborations. We are also revising our price target from $0.90 to $1.40 based on the comparative analysis of other companies participating in this industry and our belief that CytoGenix's patent pending synDNA™ represents enormous revenue potential.
About Dutton Associates
Dutton Associates is one of the largest independent investment research firmsin the U.S. Its 27 senior analysts are primarily CFAs and have expertise in manyindustries. Dutton Associates provides continuing analyst coverage of over 120enrolled companies, and its research, estimates and ratings are carried in allthe major databases serving institutions and online investors.
The cost of enrollment in our one-year continuing research program is US $33,000 prepaid before commencement of our research activities. We received $47,000from the Company for 8 reports and requisite Research Notes commencing 7/17/2002, and do not accept payment of our fees in company stock. Our principals andanalysts are prohibited from owning or trading in securities of coveredcompanies. The views expressed in this research report accurately reflect theanalyst's personal views about the subject securities or issuer. Neither theanalyst's compensation nor the compensation received by us is in any way relateto the specific ratings or views contained in this research report or note.Please read full disclosures and analyst background at www.jmdutton.com beforeinvesting.
CONTACT: Dutton Associates
John M. Dutton, 916-941-8119
