Xoma Corp. stock (NASDAQ:XOMA) moved up slightly on Friday inanticipation of today's review of its CD5 product by a Food andDrug Administration advisory committee. The stock closed at$27.88, up 38 cents.
Cowen & Co. analyst David Stone on Friday reiterated his "buy"rating on Xoma in anticipation of a favorable review by theBiological Response Modifiers Advisory Committee for use ofCD5 Plus to treat graft-vs.-host disease (GVHD) in bonemarrow transplant patients. The FDA then must give finalapproval to the product.
About 2,000 people contract GVHD in the United Statesannually. The number of bone marrow transplants is growingabout 15 percent a year. Analysts estimate a potential marketof $25 million for CD5 Plus for GVHD. BioWorld reportedrecently that the Berkeley, Calif., company is looking at CD5Plus for a wide range of other indications.
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