Hebbie Posted September 30, 2004 Share Posted September 30, 2004 Biomira stock jumps 40% on U.S. fast-track status for lung cancer vaccine Canadian Press Wednesday, September 29, 2004 EDMONTON (CP) - Shares in Biomira Inc. shot up 40 per cent in early trading Wednesday after the firm said one of its cancer vaccines has won fast-track investigation status from the U.S. Food & Drug Administration. FDA fast-track programs are designed to speed the review of drugs intended to treat serious or life-threatening conditions, Edmonton-based Biomira said in a release. On the Toronto stock market, Biomira shares (TSX:BRA) jumped 61 cents to $2.11. Fast-track status was granted for investigation of BLP25 liposome vaccine (L-BLP25) for proposed use in the treatment of non-small cell lung cancer. The fast-track designation "is an important step in the development of this product candidate and may help us bring this potentially promising drug to patients more quickly," said Alex McPherson, CEO of Biomira. "This is a significant milestone for the company, highlighting the importance of product candidates such as L-BLP25 to one day address a sizable unmet need in this patient population." Biomira's partner in the project is Merck KGaA of Darmstadt, Germany Quote Link to comment Share on other sites More sharing options...
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