U.S. Bioscience Inc. shares jumped $9.25 to $78.25 onWednesday after two analysts repeated "buys" on the stock,citing a study on the company's Ethyol product that is to bepresented at a conference next week.
The West Conshohocken, Pa., company's shares (AMEX:UBS)gained 58.4 percent in three days last month after itannounced that the Food and Drug Administration wouldreview Ethyol by Jan. 31. Ethyol protects normal tissue fromthe effects of chemotherapy.
Data from a pilot study of 12 patients with advanced breastcancer indicated that patients reinfused with Ethyol-protectedbone marrow had an engraftment time of 26 days vs. 37.4 daysfor unprotected patients. The Ethyol-treated group alsorequired fewer platelet transfusions (12 vs. 29) and requiredantibiotics for a shorter period (28 days vs. 40 days).
The study is to be presented next week at a meeting of theAmerican Society of Hematology in Denver by Dr. ElizabethShpall of the University of Colorado Hospital.
Analyst Patricia Lea of Vector Securities International said thatalthough the market for Ethyol in autologous bone marrowtransplants is small -- probably less than $250,000 -- thestudy is important because it provides the first direct clinicalevidence of Ethyol's ability to protect normal tissue byselective uptake into non-malignant cells.
Alex. Brown & Sons. Inc. analyst David Webber also reiterateda "strong buy" on the company.
Also on Wednesday, shares of Molecular Biosystems Inc. gained$4.38, closing at $35.50. Company spokeswoman Beth Wallacetold BioWorld that investors may be anticipating that the FDAwill set a date for an advisory panel to consider the company'sapplication to market Albunex. Albunex is a human albumin-derived contrast agent for cardiac ultrasound imaging.
San Diego-based Molecular (NYSE:MB) filed for marketingapproval in May. "We've always been hopeful we'd have a datefor early next year set by the end of this month," Wallace said.
-- Karen Bernstein BioWorld Staff
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