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Shares of drug developer

Point Therapeutics

(POTP)

were boosted Monday after the company announced positive trial results on its drug to treat pediatric bone cancer.

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In mouse studies, treatment with the experimental drug talabostat caused a four-fold decrease in the number of primary tumors when compared with mice given saline as a placebo.

The mice were first injected with a mouse version of the cancer, known as osteosarcoma, and treatment began the following day, Point said in a press release.

Shares of Point surged 19.2% to $1.49.