Shares of Medgenics, Inc. (NYSE Amex: MDGN and AIM: MEDU, MEDG), the developer of a novel technology for the sustained production and delivery of therapeutic proteins in patients using their own tissue, have been quietly moving higher, since a group of renowned experts affirmed the potential of the company's INFRADURE Technology for the Treatment of Hepatitis B and D.
The low-float biotech's shares are seeing some accumulation since the company announced last week that during the annual conference of the American Association for the Study of Liver Disease (AASLD) in Boston, it convened an active roundtable of top liver experts and regulatory advisors from the United States, Europe, Israel and Australia to discuss INFRADURE™ ,which the Company is developing to provide sustained interferon therapy for the treatment of hepatitis.
Fifteen key opinion leaders in hepatitis met to interactively review Medgenics’ INFRADURE for its potential applications in the treatment of hepatitis B and hepatitis D. The session provided key input reflecting the latest clinical developments in hepatitis to optimize the clinical development strategy and regulatory approach for INFRADURE.
We expect that movement in this very-low float stock will continue into positive territory in the coming days-- pimarily since we hear reports that management in presenting the findings/opinions of those key opinion leaders and regulatory advisors to firms and institutions which may be accumulating the stock during the firm's current non-deal road-show. Shares of the stock rose to $9.90+1.10 (12.50%) on Wednesday on heavier than usual volume- and as word gets out and demand rises, the bullish moves should continue.
Andrew L. Pearlman, Ph.D., President and Chief Executive Officer of Medgenics, said, “Confirmation by this group of esteemed experts on the potential application of INFRADURE in hepatitis B and D represents an important milestone for the hepatitis program using our Biopump™ platform. We are extremely appreciative of their valuable input on our proposed development plans for INFRADURE.”
BioMedReports readers were alerted first, last summer, when the stock climbed from $5 to over $16 per share. Prices sold a bit during the firm's "quiet period in the lab" during the last several months. The company recently reflected about that period of "huge progress" in which its two main treatments have passed key milestones. "We are in the process of performing a comprehensive pipeline review to assess clinical applications we believe could benefit from our versatile Biopump platform and to update our list of targeted indications that will maximise our business development prospects," said CEO Pearlman.
A week ago, the USPTO granted a patent to Medgenics, which is also developing EPODURE to address the need for safer, sustained treatment of anemia. The patent office also allowed claims covering a similar method for delivery of clotting Factor VIII, underlying Medgenics’ HEMODURE™ Biopump technology for sustained prophylactic treatment of hemophilia.
Disclosure: Long MDGN
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