Acambis up on FDA OK for smallpox vaccine

Acambis was up 9-1/4 pence at 122-3/4 after the US Food and Drug Administration gave the green light to the company's ACAM2000 smallpox vaccine.

Following the approval, Landsbanki reiterated its 'buy' recommendation on the stock, based on its positive outlook for both ACAM2000 and the Japanese Encephalitis vaccine ChimeriVax-JE.

The broker's 164p target price represents an additional 34 pct upside to the current share price. Acambis ACAM2000 and ChimeriVax pipeline contribute 31p and 78p respectively to Landsbanki's aggressively discounted (50 pct premium to cost of capital) sum-of-the-parts based valuation.

Again on the upside, Irvine Energy edged up 0.25 to 3.3750 as the AIM-listed oil and gas exploration company completed the acquisition of the Niobrara oil and gas project in Kansas, US.
Source :http://www.forbes.com/