Lifecore Biomedical Inc.'s stock jumped 25 percent Monday, up$2.25 per share to $8.88. The jump was apparently sparked byan announcement from Ethicon Inc., a subsidiary of Johnson &Johnson, that it will continue its development project onChaska, Minn.-based Lifecore's sodium hyaluronate technologyto create a product for the reduction of surgical adhesions.
Ethicon's continued involvement in the project was in questiondue to their analysis of a human clinical study that showedLifecore's product was "not demonstrating anticipated levels ofefficacy." However, after what Lifecore termed "a thoroughreview of program options," Ethicon declared its intent to stayinvolved in the project.
(c) 1997 American Health Consultants. All rights reserved.