Great site Tony, I may have just wasted months of learning T/A ;-), HIV this may explain somee of the volume.
MONDAY, APRIL 26, 1999 5:52 PM EST
- Reuters
ALEXANDRIA, Va, April 26 (Reuters) - Shares of biotech firm Cel-Sci Corp (AMEX:HIV), which develops treatments for diseases that attack the immune system, rose 28 percent on Monday, but the company said there was little news behind the surge.
Cel-Sci shares were up 69 cents at $3.125 at the close, making it one of the two largest percentage gainers on the American Stock Exchange. Volume was more than three times the daily average.
Daryll Strahl, investor relations at Cel-Sci, said she was unsure of the cause behind the stock rise, but added it could be related to a meeting management had with investors last week in Europe, where Cel-Sci has a strong presence.
"Management was over in Europe last week talking with investors and this week the stock started going up. Basically we told them the story of our company," said Strahl.
Cel-Sci has several Phase II studies underway, which Strahl said the company anticipates to be completed by the end of the year.
In March, Cel-Sci said data analysis from a clinical study of head and neck cancer patients receiving injections of its immune boosting product called Multikine revealed a high success rate. All 10 of the treated patients had reductions in tumor size.
Cel-Sci is also working on an AIDS vaccine that appeared to have given lab mice protection against the deadly HIV virus in a series of tests.
There are few analysts who cover the company because of the low value of its shares, which have seen a 52-week high of $6.4375 and a 52-week low of $1.50. |
