Pharmaceuticals(NASDAQ:PPHM) shares rose 11% on very heavy trading on positive data that was presented at the 2013 ASCO Annual Meeting from two clinical trials evaluating the company’s lead clinical candidate bavituximab.
Bavituximab is a first-in-class phosphatidylserine (PS)-targeting monoclonal antibody that represents a new approach to treating cancer. Final results from the Phase II trial showed an improvement in median overall survival (OS) of 11.7 months
“The results of this Phase I breast cancer trial are encouraging as there were no new safety signals and excellent clinical responses,” said Alison Stopeck, MD, Associate Professor of Medicine and Director, Clinical Breast Cancer Program at the University of Arizona Cancer Center. “There were several laboratory correlative studies associated with the trial which confirmed the safety of bavituximab with regard to coagulation parameters.”
Peregrine Pharmaceuticals, Inc. (NASDAQ:PPHM) is a biopharmaceutical company that focuses on the treatment and diagnosis of cancer.
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