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March 17, 2006

Nosing up again

Posted by Benjamin J. Romano at 2:29 PM

After Nastech Pharmaceutical lost a big-name partner at the beginning of the month, analysts at Needham & Co., dropped their rating on the stock.

Since then, the Bothell company has generated enough positive news to convince the analysts to restore their "buy" rating Friday. Investors followed suit, trading the stock up $1.64, 10.4 percent, to close at $17.41.

This week, Nastech marched out a new partnership with Novo Nordisk, promising early results of its RNA interference therapy candidates against flu and fourth-quarter and full-year results slightly ahead of analyst expectations.

Nastech is developing drugs formulated for nasal delivery to treat obesity, osteoporosis and other indications.

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