Message #8 From:
Stock News Bot Date: December 15, 2006 08:05:00 AM
NVLT News Rodman & Renshaw, LLC Announces Investment Opinion: Rodman & Renshaw, LLC Initiates Coverage of Novelos Therapeutics, Inc. with a Market Outperform Rating
NEW YORK--(BUSINESS WIRE)--Rodman & Renshaw, LLC initiated research coverage of Novelos
Therapeutics, Inc. (OTC BB: NVLT.OB) with a Market Outperform Rating and
an 12-month price target $3.25. Elemer Piros, Ph.D., Senior
Biotechnology Analyst, issued the report.
About Rodman & Renshaw, LLC
Rodman & Renshaw is a privately held, full-service investment bank
committed to fostering the long-term success of growth companies through
capital raising, strategic advice, insightful research, and the
development of institutional support. More information is available at www.rodmanandrenshaw.com
None of the research analysts or the research analyst's household has a
financial interest in the securities of Novelos Therapeutics, Inc.
(including, without limitation, any option, right, warrant, future, long
or short position).
As of November 30, 2006, neither Rodman & Renshaw, LLC nor its
affiliates beneficially own 1% or more of any class of common equity
securities of Novelos Therapeutics, Inc. except that Rodman & Renshaw,
LLC’s affiliate owns more than 1% of
exercisable warrants in Novelos Therapeutics, Inc.
Neither the research analyst nor Rodman & Renshaw, LLC has any material
conflict of interest with Novelos Therapeutics, Inc., of which the
research analyst knows or has reason to know at the time of publication
of this research report.
Rodman & Renshaw, LLC or its affiliates did receive compensation from
Novelos Therapeutics, Inc. for investment banking services within the
last twelve months and intends to seek compensation from Novelos
Therapeutics, Inc. for investment banking services within three months,
following publication of the research report.
Neither the research analyst nor any member of the research analyst's
household nor Rodman & Renshaw, LLC serves as an officer, director or
advisory board member of Novelos Therapeutics, Inc.
Rodman & Renshaw, LLC makes a market in Novelos Therapeutics, Inc’s
securities as of the date of this research report.
The above information is not intended to be used as a primary basis of
investment decisions. It is not a representation by Rodman & Renshaw,
LLC or an offer or the solicitation of an offer to buy any security.
Before investing in Novelos Therapeutics, Inc., you should carefully
consider your risk tolerance and financial objectives.
