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Biotech / Medical : Vion (formerly Oncorx) interesting play on Gene Therapy
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From: buffalodon20031/25/2007 6:44:17 PM
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As many are probably aware, VION announced today that they went to their 2nd stage of testing (2nd accrual of 42 patients) in the Cloretazine trial. They achieved their minimum response target of at least 9 out of the 1st accrual of 42 or 43 patients. Volume was high as expected; however the pps moved up only .02. This seems to be a material event. Does anyone have ideas or facts as to why pps movement was poor, other than market as whole performed poorly (decliners outpaced advances by over 2 to 1)? I've come to understand from postings regarding trials that sometimes trials are favorably cut short (i.e. no 2nd accrual of patients) if significant favorable response rates are achieved in excess of lower set targets. I would not think that all else is viewed as a negative because the trials continue on to the 2nd half of accruals. Views are appreciated.
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