NYON, Switzerland, Dec. 3, 2008 (GLOBE NEWSWIRE) -- Mymetics Corporation (OTCBB:MYMX) announced today that Khandaker Partners has initiated coverage (www.mymetics.com) with an intermediate term price range of $1.20 for its common stock. Mymetics is a Swiss biotech company with a mucosal AIDS vaccine candidate entering Human Clinical Phase I trials and a long term Malaria vaccine in Phase II Human Clinical trials.
The Research Report states, "The outlook for the company is positive as the HIV and malaria vaccine markets are largely unexplored. The company is developing vaccines using a novel technology, and is, therefore, likely to capture a significant market share."
Khandaker has valued the company using a conservative set of DCF parameters including a risk-free rate of 3.18%, risk premium of 8.84%, and beta of 0.62 to calculate the company's cost of capital. Khandaker further assumed an additional risk premium of 2.00% to account for the opportunity risks faced by the company. Included in the valuation is the market potential for a HIV vaccine based on the growing HIV population across the globe and the estimated market potential of their malaria vaccine based on the current incidence data of malaria.
About Mymetics Corporation
Mymetics' corporate objective is to develop vaccines and therapies to prevent and treat the effects of certain retroviruses and other infectious diseases, including HIV/AIDS and Malaria. In Q4 2008 Mymetics will commence Phase 1b Human Clinical trials of their HIV/AIDS preventative vaccine candidate which showed extremely promising results (see Press Release September 16, 2008) as well as continuing Mymetics' long term Malaria vaccine in Phase II Human Clinical trials. Additional applications of Mymetics' research include potential treatments and/or vaccines for human oncoviral leukemias, multiple sclerosis, and organ transplantation. Long range growth plans key to Mymetics' development include acquisitions of prophylactic or therapeutic vaccines against breast cancer, candidiasis, RSV, malaria and hepatitis.
The Mymetics Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5478