Coley kept at neutral by Merrill

Coley Pharmaceutical Group Inc. was maintained at neutral by Merrill Lynch analyst Tom Mcgahren on the company's encouraging top-line data from a phase 1b study of Actilon in combination with pegylated interferon and ribavirin in relapsed treatment-experienced patients with chronic hepatitis C. The phase 1b data was announced sooner than expected. Merrill believes based on the early data, use as an add-on to standard therapy in relapsed responders or non-responders may represent Actilon's quickest potential route to commercialization. Shares of the Wellesley, Mass., biopharmaceutical company were down 48 cents, or 2.90%, at $16.09 on volume of 433,382 shares versus the three-month running average of 81,527 shares. (Nasdaq: COLY)

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