Vista Partners Updates Coverage on Pro-Pharmaceuticals, Inc.; Raises Target Price to $2.10

LOS ANGELES, Sept. 8 /PRNewswire/ -- Vista Partners announced today that it has updated coverage on Pro-Pharmaceuticals, Inc. (OTC Bulletin Board: PRWP) ("the Company") and raised its twelve month target price to $2.10. Ross Silver, Principal Analyst at Vista Partners stated, "The Company received its first purchase order of DAVANAT® in June which was a significant milestone in the Company's history. In addition, the Company improved its balance sheet and Dr. Peter Traber, the former Chief Medical Officer for Glaxo Smith Kline, joined the Company in a similar role in June. The Company plans to submit a Phase III Colorectal Cancer trial design to U.S. FDA by the end of 2010, another significant milestone once achieved. DAVANAT®, the Company's lead product candidate, could potentially enhance the efficacy of already approved oncology drugs while also reducing the side effect profile of these drugs. By doing so, patients potentially will live longer and live better and the cost of treatment could be reduced significantly."  To download a FREE copy of the Pro-Pharmaceuticals, Inc. research report, please visit www.vistap.com/research and complete the research form to gain access to the report.

About Vista Partners:

With offices in California and Oregon, Vista Partners LLC is one of the fastest growing independently owned research and consulting firms in the United States. Vista Partners professional staff has backgrounds in finance, corporate communications and investment banking.

SOURCE Vista Partners

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