Results Boost Vical

Shares rise on positive data from an angiogenesis product that uses its DNA delivery technology.
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Vical

(VICL)

rose Monday after announcing positive interim results of a late-stage trial for an angiogenesis product that uses its DNA delivery technology.

The research and development company's Japanese licensee, biopharmaceutical company AnGes, reported the results for the phase III study, which involved 40 patients with critical limb ischemia, a blood-flow-restricting condition, who were treated with a protein that causes growth of blood vessels in the restricted areas.

AnGes said the trial showed statistical significance in the primary endpoints, which focused on improvement of rest pain and ischemic ulcer size at 12 weeks, and there were no major safety concerns.

On the recommendation of the Independent Data Monitoring Committee, AnGes is stopping a phase III trial early to prevent potential ethical issues against the placebo group subjects.

San Diego-based Vical said AnGes is preparing to file an application for Japanese marketing approval, and the product will be the first approved for human use based on its DNA delivery technology.

"This novel approach has the potential to address an important, unserved medical need in a significant commercial market. We look forward to further updates from AnGes as they advance through the regulatory approval process," said Vical CEO Vijay Samant.

Vical's shares were up 88 cents, or 17.6%, to $5.87.