Biopharmaceutical Winners: CVM, NEXM, OPXA
CEL-SCI Corporation (AMEX:CVM) jumped 17.17% to close at $0.63 with 1,919,446 shares moving on no official news; however Tuesday at this year’s annual BIO CEO & Investor Conference, the company’s CEO presented the benefits of its lead cancer therapeutic, Multikine, which was later brutally rebuffed in an online article published by an investment researcher for TheStreet.com, which sent the stock tumbling about 10% that day. Based in Vienna, Virginia, CEL-SCI Corporation researches and develops drugs and vaccines used in the treatment of cancer and viral infections, the company has been actively researching possible variations and eventual mutations of the swine flu.
NexMed, Inc. (NASDAQ:NEXM) up 8.70% to close at $0.039 on no news since the company announced a private placement of $2.3 million; and the sale of its New Jersey state tax credits and net operating losses which raised $438,000 in net proceeds. In January the company announced that pre-clinical results confirmed the ability of the company’s NexACT technology to orally administer chemotherapy drug Taxol, and sent the stock surging 85%. Headquartered in East Windsor, New Jersey, NexMed, Inc. develops bio-enhancement drug delivery technology known as NexACT, which enables an active drug to be better absorbed through the skin. NexMed has 3 drug candidates at mid stage trial and expects a decision from Health Canada in February 2010 concerning approval of Vitaros, a topical treatment for erectile dysfunction. NEXM’s 52 week high sits at $0.74; the stock is trading above its 200 day moving average of $0.27, and overall has appreciated 71% in 2010.
Opexa Therapeutics Inc. (NASDAQ:OPXA) advanced 8.81% to close at $2.10, on no news. Based in The Woodlands, Texas, Opexa Therapeutics, Inc. develops patient-specific cellular therapies for the treatment of autoimmune diseases including multiple sclerosis (MS) and diabetes. The proprietary therapies are based on adult stem cell technologies and include a T-cell therapeutic vaccine, Tovaxin, which is in clinical development for the treatment of MS.
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