Oasmia Rises Most in 7 Weeks on Paclical Clinical Trial Data

Aug. 1 (Bloomberg) -- Oasmia Pharmaceutical AB rose the most in seven weeks in Stockholm trading after its Paclical drug showed positive results in a late-stage clinical trial in ovarian cancer.

Shares in the Uppsala, Sweden-based company, which specializes in human and veterinary oncology, advanced 1.45 kronor, or 12 percent, to 14 kronor at 5:30 p.m. in Stockholm. It was the stock’s biggest gain since June 13.

Oasmia tested the effectiveness of Paclical by measuring levels of CA 125, a protein often detected in elevated levels in patients with ovarian cancer. An interim analysis showed the water-soluble drug, which is given as a one-hour infusion, reduced CA 125 levels as well as the older cancer treatment Taxol, Oasmia said today in a statement. It’s the first time researchers have used the approach in a late-stage trial, Oasmia said.

Paclical has the same active ingredient as Taxol, which requires a three-hour infusion and additional medication, though Paclical has fewer side effects, Oasmia said. The company said it plans to apply to the European Medicines Agency for marketing approval for the drug based on the results.

To contact the reporter on this story: Sarah Halls in London at shalls@bloomberg.net

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net