An update has just come out today on Cyclacel Pharmaceuticals, Inc. (CYCC), in which Zacks senior pharma industry analyst Grant Zeng, CFA is restating his Hold rating on the company.  We excerpted the following details:

'Cyclacel Pharmaceuticals is a clinical stage company dedicated to the discovery, development and commercialization of small molecule cell cycle inhibitors for the treatment of cancers and other serious disorders. The company's lead pipeline candidate, CYC202, is being developed for the treatment of non-small cell lung cancer. The recent acquisition of Align has bolstered the company's oncology/hematology programs and provided it with a revenue stream.

'Most of the company's programs are in early or mid-stage clinical development. The company recently bolstered its oncology/hematology program with the acquisition of Align. The acquisition also provided the company with three marketed drugs and a revenue stream. Although we believe the development of CYC202 for the third-line treatment of NSCLC presents a significant commercial opportunity for the company, it is still several years away from reaching the market.

'However, CYC202, as well as other pipeline candidates, are still in early or mid-stage developments. As such, we maintain a Hold rating on the stock with a price target of $6.00.'