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[posting]40762102[/posting]21.12.2010 19:35 Xoma shares soar on diabetes drug data hopes BANGALORE, Dec 21 (Reuters) - Shares of biotechnology company Xoma Ltd jumped 50 percent on Tuesday on hopes of positive mid-stage data from its experimental diabetes drug. Xoma is expected to report data from two mid-stage trials of its diabetes drug XOMA052 in early 2011, which could help the company in securing a partnership for the drug. 'With Phase II data on XOMA052 in diabetes expected in H1:11 we see an opportunity for meaningful near-term appreciation,' said Summer Street Research Partners analyst Bart Classen. XOMAO52 works by blocking an inflammation-causing protein called Interleukin-1, which damages and destroy insulin-producing islet cells. 'We believe anti-IL-1 therapy could play an important role in diabetes due to its impact on islet cell function which could allow glucose control with a reduced risk of hypoglycemia or heart attacks,' Classen said. The analyst said data from the mid-stage trials could confirm XOMA052's potential to become a blockbuster drug. The Berkeley, California-based company's shares, which have lost three-fourth of their value in the last one year, were up 38 percent at $3.28 on Tuesday on Nasdaq. More than 5.4 million shares changed hands, which was more than 19 times the stock's ten-day average volumes. (Reporting by Anand Basu in Bangalore; Editing by Vyas Mohan) Keywords: XOMA/SHARES (anand.basu@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging:anand.basu.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. © 2010 AFX News |
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| aus der Diskussion: | XOMA- RT-CHARTS, ANALYSEN, NEWS, RATINGS |
| Autor (Datum des Eintrages): | Aktientitan (26.12.10 11:54:48) |
| Beitrag: | 8 von 43 (ID:40762110) |
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