Gabe: Here is the DJ Newswire!
1742 DJ 4-Jan-00 at 13:51:00 13:52
DJN =DJ GeneSense Acquisition Drives Lorus Therapeutics >LORFF
Symbol: LORFF C/LOR
Industry: BTC MTC
Subject: DJN DJWI DJS MMM TNM CAC STK
Market Sector: MMR TEC
Geographic Region: CN NME ONT
Product/Service: DCA DPH
By Stuart Weinberg
TORONTO (Dow Jones)--Shares of Lorus Therapeutics Inc. (LORFF) are picking up where they left off in 1999, up 10% in Toronto trading Tuesday and close to a 52-week high.
"They're gaining critical mass in Canada," said Daniel Bagi, analyst at Dominick and Dominick. "Look at other cancer (treatment) companies in Canada,
none has the technologial base that Lorus has."
The recent acquision of GeneSense Technologies Inc. of Toronto enhanced the company's already promising array of cancer treatments, Bagi said.
GeneSense produces two antisense cancer treatment drugs, GTI 2040 and GTI 2501. Phase I and II clinical trials of GTI 2040 began shortly after GeneSense was acquired by Lorus, said Lorus chairman and chief executive Philippe
Lacaille.
"The drug is very unique," Lacaille said. "When it was tested in animals bearing human cancers, it acted against more than nine different types of cancers (including lung, liver, colon and pancreatic cancer)."
GTI 2040 completely eliminated renal cancer in animals during preclinical trials when it was combined with "certain chemotherapy agents," Lacaille said.
GTI 2501 is about six months behind GT! 2040, but shows even more promise, Lacaille said. In preclinical trials on animals with breast and renal cancer, when the drug was used alone. the cancers were completely eradicated, Lacaille
said. Lacaille said he was happy with the recent increase in the company's share price. "I believe the company is undervalued when you take into account that
we have one of the richest cancer treatment portfolios in Canada, but we're happy to seee the market is starting to recognize some value in Lorus," he said.
In Toronto Tuesday, the stock is up 0.12 to 1.33 on about 2.46 million shares. It has traded as high as 1.55, above its 52-week high of 1.44.
(MORE) DOW JONES NEWS 01-04-00
01:51 PM |
