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Hollis-Eden spurs stock price with preclinical news
It's not often that you see a set of preclinical data influence a company's stock price, but Hollis-Eden was feeling a strong wind in its sails when it released its data on HE3235 for prostate cancer. Researchers for the company demonstrated that the therapy stopped the growth of hormone independent tumors in a preclinical model using human tumor cells. And they presented information suggesting that the treatment triggers cell death--a key mechanism in fighting cancer.
This was all welcome news for the company, which saw its stock price jump about 35 percent on the report. Hollis-Eden has been staging a comeback since the U.S. government cut it out of the loop for a BioShield contract. Investors seem ready to believe that the company can do it. Hollis-Eden was recently feature in our weekly column on emerging drug developers.
- see the data from Hollis-Eden
- here's the report from TheStreet
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Hollis-Eden to chop work force in restructuring. Report
Hollis-Eden shares plunge on HHS drug rejection. Report
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