Development-stage biopharmaceutical company Hollis-Eden Pharmaceuticals ( HEPH) garnered investor enthusiasm after presenting encouraging preclinical data on its prostate cancer drug candidate HE3235. According to preclinical models using human tumor cells, the treatment significantly stopped growth in hormone-independent tumors, which are associated with late-stage prostate cancer. Hollis-Eden also presented data that suggested the treatment could potentially trigger tumor cell death. In addition to HE3235, Hollis-Eden is preparing its HE3286 product for clinical trials in treating type II diabetes and potentially for rheumatoid arthritis. Shares surged 65 cents, or 32%, to $2.69 Thursday.
Stocks soar as the gross domestic product rises at an annualized rate of 3.5% in the third quarter and continuing jobless claims fall. Gregg Greenberg recaps the action in The Real Story video (above).