BIOM Is up 15.32% (it was up more than 18% earlier <g>)and volume is over 121K
After the sell off on September 19, when the company said they will continue with Theratope's Phase III for breast cancer as there was not enough data at the interim analysis, lately the stock has been doing better with a 300% recovery from the October Ls.
Today it opened on a small up-gap. It needs to close above 1.60 to continue the present near term up-trend.
They keep making some encouraging comments, but the situation remains very speculative.<g>
"Biomira's financial reserves include $49.7 million in cash and short-term investments as at September 30, 2002. During the third quarter, the Company made interest and principal repayments of $4.3 million under the terms of its convertible debenture agreement. To date, the convertible debenture repayments have been entirely in cash". (Apparently they feel the stock is undervalued .<g>
"At the interim analysis the statistical hurdles were much higher than for the final analysis of the full survival data," said Alex McPherson, MD, PhD, President and CEO.
" The statistical significance required at the final survival analysis will be more than three-fold easier to achieve , requiring a p-value equal to or less than approximately 0.03, while still showing statistical significance. The study was designed and powered to show the strongest survival data at the final analysis."
"The DSMB not only recommended that we continue the Phase III clinical trial, but also had no concerns about us continuing other trials in our present program and initiating new trials under our current development plan. In our opinion, this was a very positive comment."
"It is believed that the resulting strategy will keep the Company at the forefront of therapeutic cancer vaccine development, while ensuring the Company has adequate funding to proceed well past the final analysis, expected in the first half of 2003, for the Phase III metastatic breast cancer trial of THERATOPE® vaccine".
"In early October 2002, a Phase II THERATOPE® vaccine pilot study in metastatic colorectal cancer patients was fully enrolled. Data should be available in the first half of 2003".
"BLP25 LiposomalVaccine: Enrolment continues in a 166-patient randomized and controlled study utilizing BLP25 Liposomal vaccine in patients with metastatic non-small cell lung cancer. The trial endpoints are safety, survival and quality of life. The trial is expected to complete enrolment by the end of 2002. A DSMB review of safety data from the first 100 patients was recently announced, with the recommendation to continue the trial without modification."
"BLP25 Liposomal vaccine is also being tested in a Phase II pilot study in patients with prostate cancer. The purpose of the trial is to determine whether BLP25 Liposomal vaccine can affect the serum marker prostate specific antigen (PSA). The study will follow patients to see if PSA levels, usually indicative of growing cancer, can be reduced or stabilized."
Bernard |
