Bloomberg News

BioCancell Rises as Much as 12% After Pancreatic Cancer Trial

October 31, 2010

BioCancell Therapeutics Inc. (BICL) closed little changed after earlier advancing to the highest intraday level in more than nine months as it successfully completing a clinical trial of its BC-819 drug to treat pancreatic cancer.

The shares rose less than 0.1 percent to 3.94 shekels at the 4:30 p.m. close in Tel Aviv. They gained as much as 12 percent to 4.40 shekels intraday. The stock has increased 62 percent this year, giving the Jerusalem-based company a market value of 81.4 million shekels ($22.4 million).

The Phase I/IIa trial was successful in meeting its targets, which were the safety and initial effectiveness of the drug, the company said.

To contact the reporter on this story: Ronit Goodman in Tel Aviv at rgoodman9@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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