QLTI: 3.36 +0.35 (11.63%) - QLT Inc. (USA) ***** buy

QLTI: 3.36 +0.35 (11.63%) - QLT Inc. (USA): "# Range 3.01 - 3.51
# 52 week 1.40 - 4.09
# Open 3.07
# Vol / Avg. 1.61M/287,000.00
# Mkt cap 183.52M
# P/E 9.81
# Div -
# EPS 0.34
# Shares 54.62M
# Beta 1.33
# Inst"
TORONTO (DOW JONES)--QLT Inc.'s (QLTI) shares are up nearly 60% so far this month, a move the company's top executive says isn't surprising given how low the stock sank.

"I think we're moving towards a more reasonable valuation," said QLT Chief Executive Bob Butchofsky in an interview with Dow Jones. He added that QLT was recently trading below cash value, but has recovered along with other stocks in the ophthalmology sector.

On Nasdaq Monday, QLT is up 37 cents, or 12%, to $3.38 on 187,000 shares. The stock traded as low as $1.40 in March, and is at its highest level since September.
QLT Inc. (QLT), is a global biopharmaceutical company engaged in the business of discovering, developing and commercialization of therapies. QLT has two commercial products, Visudyne and Eligard. Visudyne utilizes photodynamic therapy (PDT), to treat the eye disease known as wet age related macular degeneration (wet AMD), the cause of blindness in people over the age of 55 in North America and Europe. Visudyne is also used for the treatment of subfoveal choroidal neovascularization (CNV) due to pathologic myopia, or severe near-sightedness, and presumed ocular histoplasmosis or other macular diseases. The Eligard product line includes one, three, four and six month commercial formulations of Atrigel technology combined with leuprolide acetate.

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