Avigen at outperform by RBC

RBC Capital Markets analyst Michael J. Yee reiterated Avigen, Inc. at outperform, speculative risk, as the company's pipeline progress continues on track. Yee is encouraged by Avigen's lead candidate AV650 for spasticity after its approval in central Europe. Yee noted that the company reported a net loss of $5.7 million, or ($0.23), in line with his estimate. The company ended the third quarter with $75 million in cash. Shares of the Alameda, Calif.-based development stage company were down 4 cents, or 0.73, at $5.43. (Nasdaq: AVGN)

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