This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

For Celsion, Patience May Be a Four-Letter Word

LAWRENCEVILL, NJ ( TheStreet) -- Celsion (CLSN - Get Report) shares fell Monday after the company announced that a pivotal phase III clinical trial of its experimental liver cancer therapy will continue to a final analysis in late 2012.

Some investors had hoped that the interim look at Celsion's Thermodox study would have yielded a patient benefit large enough to stop early for success. However, the statistical hurdle to stop clinical trials early is typically set very high, making it a relatively uncommon occurrence.

For Celsion, continuing the Thermodox study to its final analysis is a small victory even if it disappoints some investors who hoped for an early holiday present. Monday's news could have been much worse. The same independent overseers could have concluded that Thermodox was not helping liver cancer patients at all and put a halt to the study for futility.

Celsion shares were down 13% to $2.43 in Monday trading. Celsion is still up 19% year to date.

The biggest investor issue facing Celsion is probably going to be complacency. Celsion estimates a final analysis of the Thermodox study could take place in "late 2012." For biotech investors typically craving short-term trading catalysts to keep their interest, Celsion may be too much of a long-term story to bother with right now.

Celsion ended the September quarter with $21 million. At its current burn rate of around $7 million per quarter means the company will likely need to raise additional money before the final results of the Thermodox study are known. How Celsion raises additional cash -- through a sale of stock or a Thermodox partnership -- isn't known.

Celsion said Monday that it plans to seek FDA permission to amend the Thermodox study design to allow for an additional interim look at the data. This opens up the possibility that the Thermodox study might end earlier than expected, although Celsion offered no timetable Monday.

Thermodox consists of tiny, heat-sensitive spheres of fat that contain a payload of the chemotherapy drug doxorubicin. When injected into the body, Thermodox accumulates at the site of the tumor. When the tumor site is heated to about 107 degrees using radio waves (radiofrequency thermal ablation, or RFA), the Thermodox spheres melt, bathing the tumor and adjacent tissue in high levels of doxorubicin.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
CLSN $2.69 0.00%
AAPL $123.25 0.00%
FB $83.30 0.00%
GOOG $548.34 0.00%
TSLA $185.00 0.00%


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs