When a pharmaceutical company reveals information about success in a clinical trial of one of its products, then it almost always has a positive effect on the stock price. That is what happened with CVM stock after Cel-Sci Corporation (NYSEAMERICAN:CVM) announced results from the clinical trial of its product Multikine, which is a form of leukocyte interleukin injection.
CVM Stock Gains Further Momentum
According to the information released by the company, the product managed to reach the primary endpoint meant to indicate overall survival. It goes without saying that it is an important development and CVM stock rose by as much as 7% as a result.
The medicine in question is going to be of a mass-produced nature. It is a biologic containing as many as 14 different cytokines that are produced by the human body and is supposed to help keep cancer at bay. The scope of Multikine is huge, and if it does manage to hit the market, then it could prove to be a significant coup for Cel-Sci in the long run. On the other hand, the secondary endpoint in the Phase 3 clinical trial included indications related to the quality of life and survival without progression in cancer.
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At the time of writing, CVM stock is up 7.25% to $8.46 after hitting a session high of $9.16.
The company had enrolled a total of 928 patients for the Phase 3 clinical trial, and the data was given to the Independent Data Monitoring Committee (IDMC) by the clinical research organization (CRO). CRO is the body that is actually responsible for data management when it comes to clinical trials of this nature, and the organization has worked diligently towards that purpose for many years now.
In its report, IDMC stated that it observed “progression-free and overall survival and limited demographic and safety data available for the aforementioned protocol.” The latest development is an important one for Cel-Sci, and it would be worthwhile to keep an eye on CVM stock over the rest of the week.
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