=DJ Matritech Up -2: Pres Stresses Data Preliminary
By Beth M. Mantz
NEW YORK (Dow Jones)--For the second straight day, Matritech Inc. (NMPS)
investors boosted shares as if Matritech had received government approval
for its breast cancer screen, instead of announcing results of a preliminary
study.
The shares recently changed hands at 3 27/32, up 1 7/32, or 46.4%, on
Nasdaq volume of 9.7 million, compared with average daily volume of 96,500.
On Thursday they soared 236%.
Earlier Friday, Matritech said its scientists, in the preliminary study,
had detected elevated levels of specific proteins among all 20 breast cancer
patients, while not finding any evidence of the proteins in 20 women who are
believed to be disease-free.
"I'd like to emphasize (the word) 'preliminary"' to describe these research
results, Matritech President David Corbet said. The study, which examined
blood specimens from the subjects to identify certain markers, began with
three women and increased gradually to the current number.
Although the information from the study is "a bit preliminary" to submit to
the Food and Drug Administration, "it is not unreasonable (for Matritech) to
be in FDA clinical mode next year," Corbet said. "We haven't given a
schedule out."
(MORE) DOW JONES NEWS 09-10-99
12:49 PM |
