ANX starting to get noticed on the blogs. Cramer even wrote about ANX today.
Tuesday, December 26, 2006
Adventrx to Begin Trials on Cancer Drug
FDA Approves Investigational New Drug Application for Adventrx Cancer Drug
SAN DIEGO (AP) -- Adventrx Pharmaceuticals Inc. said Tuesday the Food and Drug Administration accepted its investigational new drug application for a potential cancer drug.
The drug maker will conduct trials to establish that its drug, ANX-530, works the same as Navelbine, an anti-cancer agent approved to fight non-small cell lung cancer.
A 28-person clinical trial is expected to begin in January.
Adventrx expects to file a new drug application by the end of 2007, potentially making ANX-530 the company's first commercial oncology product.
Shares closed Friday's American Stock Exchange session at $2.64, and rose 11 cents, or 4.2 percent, to $2.75 in pre-market electronic trading. Over the past year, the stock has ranged between $2.26 and $5.38.
ANX is trading up again today at $2.82, up 18 cents per share.
ANX-530 is the same a Navelbine, which are cell cycle inhibitors. Dividing cells have specific stages of replication. ANX-530 stops cell division at the mitosis stage, M phase. It interacts with a protein called tubulin, which is necessary for chromosome separation and microtubule assembly. ANX-530 belongs to the class of drugs termed vinca alkoloids.
Posted by Fundamentals Of BioTech101 at 12:14 PM |
