IDI Pharma Inc. ( IDMI8.25, +3.00, +57.1%) shares soared after the company said during Tuesday's session that the Food and Drug Administration has scheduled an Oncologic Drugs Advisory Committee meeting on May 9 to discuss Junovan. IDM Pharma has filed a new drug application for Junovan to treat patients with newly diagnosed resectable high grade osteosarcoma following surgical resection in combination with multiple agent chemotherapy.
Resectable high grade osteosarcoma is bone cancer that can be operated on or partially removed. Junovan stimulates the immune system by activating immune cells called macrophages. The drug is actually a derivative of bacterial cell walls and this is how it activates the immune system. How it works is [very simply] is to activate the macrophage which in turn releases cytokines that further manifest the immune response.
Junovan has orphan drug status in the U.S. and Europe.
IDMI is trading in mid-afternoon up 55% to $8.18, that's 2.93 a share.
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2 comments:
This looks like a very promising drug, shares will go to $15-20 during May.
I couldn't agree more. DNDN news helps.
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