Bionor Pharma ASA (BIONOR), a Norwegian developer of experimental HIV treatments, rose to an eight-month high in Oslo after completing part of a clinical study.
Shares in the Oslo-based company rose as much as 16 percent to 3.67 kroner, the highest intraday level since Oct. 2, and were up 9.2 percent as of 1:12 p.m. in the Norwegian capital, making it the biggest gain on the Oslo Stock Exchange Benchmark Index. (OSEBX) About 3.4 million Bionor shares were traded, more than seven times the three-month daily average.
Bionor Pharma completed the first part of a mid-stage study for its Vacc-4x HIV vaccine in combination with Celgene Corp. (CELG:US)’s best-selling Revlimid drug, the company said in a statement today. The study is investigating whether Revlimid enhances the effect of Vacc-4x. The first part of the study was designed to determine the highest tolerated dose among three lenalidomide doses. All doses were well tolerated, and the highest has been chosen for the second part of the study, Bionor said.
Bionor Pharma is seeking to divest its nutraceuticals operations to focus on vaccines for viral infections. Its Vacc-4x and Vacc-C5 HIV vaccines are currently undergoing clinical trials.
Celgene’s Revlimid last week won approval from the Food and Drug Administration for wider use in patients with a rare and aggressive form of cancer called mantle cell lymphoma that starts in white blood cells.
Bionor Pharma is scheduled to hold its capital markets day in Oslo tomorrow.
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