Bionor Pharma Rises as HIV Drug Study Gets Approval: Oslo Mover
Stock Chart for Bionor Pharma ASA (BIONOR)
Bionor Pharma ASA (BIONOR), a Norwegian developer of experimental HIV treatments, rose the most in more than three weeks in Oslo trading after gaining approval to start a clinical trial.
Bionor Pharma rose as much as 6.8 percent, the biggest intraday jump since July 20, and was up 3.3 percent at 3.48 kroner as of 1:05 p.m. in Oslo. The stock has more than doubled in price this year.
German health authorities approved a trial to investigate whether the company’s Vacc-4x treatment in combination with Celgene Corp. (CELG)’s cancer drug Revlimid will boost HIV patients’ immune systems, the Oslo-based company said in a statement.
Bionor hopes “this study will pave the way for the first immune therapy combination for patients who have not regained a normal immune function,” Chief Medical Officer Vidar Wendel- Hansen said in the statement.
The costs of the study will be shared evenly between the two companies. After a separate study is completed with Bionor’s Vacc-C5 product to reduce viral production, Bionor plans to combine Vacc-4x with Vacc-C5, “which could form the basis for both a therapeutic and a preventive HIV vaccine,” according to the statement.
Bionor said in October 2010 it would abandon the Vacc-4x shot because six-month data showed it didn’t work. The stock plunged 81 percent on the announcement. The company reversed the decision in November 2010 after further analysis indicated the treatment lowered viral levels.
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