Trial Data Lift Progen
Progen Pharmaceuticals (PGLA) saw its shares soar 53% Monday after the company said its experimental cancer treatment showed positive results in a clinical trial.
The company was testing a drug known as PI-88 in patients who have previously undergone the surgical removal of liver cancer.
The 48-week data demonstrated that 160 milligrams of PI-88 improved patients' disease-free rate, the primary endpoint, by 25%, and prolonged the time to tumor recurrence from 27 weeks to 48 weeks, or 78%.
Shares of Progen were lately up $4.36 at $12 in premarket trading.
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