Tapestry Pharma up 36% in morning trading:

TAPESTRY PHARMA INC (NasdaqCM:TPPH)

Last Trade: 1.99
Trade Time: 12:31PM ET
Change: 0.52 (35.37%)


Not much in the way of data here, just looking for reasons this stock is shooting up today.
Tapestry Pharmaceuticals, Inc., together with its subsidiaries, develops therapies for the treatment of cancer. Its development stages therapeutic candidate products include TPI 287 IV, a Phase I product for prostate, nonsmall cell lung, and breast cancers; TPI 287 oral formulation, a preclinical development stage product for prostate, nonsmall cell lung, pancreatic, ovarian, breast, and colon cancers. The company’s development stages products also comprise Quassinoids and Linked Cytotoxics, preclinical development stage products for Cancers. Tapestry Pharmaceuticals was founded in 1991 and is based in Boulder, Colorado.

Tapestry Pharmaceuticals, Inc. has developed a novel taxane analog, TPI 287. TPI 287 is synthetically manufactured from naturally occurring taxanes extracted from yew starting material. The synthesis involves modification to the taxane side chain to overcome multidrug resistance and to achieve mutant tubulin binding. This study will be a multi-center, dose escalation, sequential group, phase I study evaluating the intravenous administration of TPI 287, a novel third generation taxane.
Taxane inhibits microtubules thus stopping cell division. Microtubules pull the chromosomes apart during mitosis, and are a big drug target. Taxol is the first generation microtubule inhibitor.