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Rodman & Renshaw disclosed Mateon Therapeutics (NASDAQ:MATN), boosting its stock price target to $2.00 earlier today

Indicating a possible upside of 1.86%, Rodman & Renshaw upped the price target of Mateon Therapeutics (NASDAQ:MATN) to $2.

Just yesterday Mateon Therapeutics (NASDAQ:MATN) traded 9.37% lower at $0.70. The company’s 50-day average is $0.69 and its 200-day average is $0.69. With the last close up 14.38% relative to the 200-day moving average, compared with the S&P 500 Index which has fallen -0.01% over the same period. 217,372 shares of the stock exchanged hands, up from ann avg. volume of 95,583.

See Graph Below:

Mateon Therapeutics (NASDAQ:MATN)

With a market cap of $0.0, Mateon Therapeutics has a one-year low of $0.49 and a one-year high of $1.40 with a price-earnings ratio of 0.

About Mateon Therapeutics (NASDAQ:MATN)

Mateon Therapeutics, Inc., formerly OXiGENE, Inc., is a biopharmaceutical company. The Company is focused on the development of vascular disrupting agents (VDAs) for the treatment of cancer. The Company is engaged in developing two clinical stage investigational drugs: VDAs-CA4P and OXi4503. Its lead compound is CA4P, which is also known as combretastatin A4-phosphate, fosbretabulin tromethamine, fosbretabulin and ZYBRESTAT. VDAs selectively targets the vasculature of cancer tumors and obstructs a tumor’s blood supply without disrupting the blood supply to normal tissues. VDAs are in a class of drugs called vascular targeted therapies (VTTs), which also includes anti-angiogenic agents (AAs). CA4P is a reversible tubulin binding agent that selectively targets the endothelial cells that make up the blood vessel walls in solid tumors. The Company is pursuing the development of a product candidate, OXi4503, and which is a dual-mechanism VDA.

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