Shares of InNexus Biotechnology (TSX: V.IXS, Stock Forum) surged 40.6% to 22.5 cents Tuesday after the company announced the completion of a large scale primate study which it says confirms the effectiveness and safety of its lead candidate DXL625 (CD20).
The product is for the prospective treatment of non-Hodgkin’s lymphoma.
The B.C.-based drug development company also says that it has scheduled a meeting with the United States Food and Drug Administration during the first half of 2009 to discuss the design of a clinical study.
"This study confirms that DXL625 is specific to the CD20 antigen present on NHL tumor cells and is a major milestone in our plan for clinical and commercial success," said Jeff Morhet, CEO and chairman of InNexus.
"This success paves the way for the filing of an IND and commencement of clinical trials of DXL625 in the near future," he added.
The company says the candidate “was effective in completely eliminating all lymphocytes with a CD20 marker within hours at the lowest dose tested. No adverse events were seen even at a dose 100-fold higher than the lowest dose. The CD20 marker is the same as that found on tumors cells in patients with Non-Hodgkins Lymphoma patients.”
On the InNexus Bullboard Tuesday, janzsteve said: “CEO Jeff Morhet is well known for back to back news releases. We are also very low on cash. I would not be suprised if we saw another news release this week, but just my opinion. Put me down for the RP monies or something even bigger than that. Great News again[sic].”
