QLT keeps Merrill's neutral rating

QLT Inc. was maintained at its neutral rating by Merrill Lynch analyst Hari Sambasivam. The company's pro-forma results were slightly above Merrill's estimates due to lower spending. QLT reported total revenues of $50 million, Visudyne sales of $107 million and Eligard sales of $25 million, compared with Merrill's $49 million, $107 million and $25 million, respectively. Pro-forma earnings per share in the quarter were $0.11 versus the analyst's $0.07. Shares of the Vancouver, B.C., biopharmaceutical company were down 19 cents, or 2.65%, at $6.98 on volume of 3,156,209 shares versus the three-month running average of 1,412,720 shares. (Nasdaq: QLTI)

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