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Biotech / Medical : Vion (formerly Oncorx) interesting play on Gene Therapy -- Ignore unavailable to you. Want to Upgrade?

To: Jim Oravetz who wrote (298)	6/20/2003 1:17:16 PM
From: Jim Oravetz	Read Replies (1) \| Respond to of 370

Vion Announces Termination Of Phase 1 TAPET(R) Trial DOW JONES NEWSWIRES NEW HAVEN, Conn. -- Vion Pharmaceuticals Inc. (VION), seeking to cut costs, terminated a Phase I trial of its Tapet cancer drug candidate in order to divert funds earmarked for that study to Phase II trials for two other anitcancer compounds. Vion said in a press release Thursday that it continues to evaluate second generation Tapet vectors in preclinical studies. The biopharmaceutical company, which ended the first quarter with $8.1 million in cash and cash equivalents, said May 15 that it was continuing to explore its options for raising capital or cutting costs. Vion plans to focus resources on funding Phase II clinical development of Triapine and VNP40101M, two other cancer drug candiates. Vion said its shares regained compliance with Nasdaq's minimum bid rule. In January, the company said it had obtained an extra 180-day grace period to achieve compliance. Shares of Vion traded recently at $2.52, up 14 cents, or 5.9%, on composite volume of 2.09 million shares. Average volume is 615,318 shares a day.