UK smallcap opening - Antisoma climbs on new lung cancer treatment trial launch - Stock Market News, London South East
LONDON (Thomson Financial) - Shares in Antisoma Plc. rose 12 percent in opening trade, as the cancer drug developer announced that its partner Novartis has launched phase III trials on lung cancer treatment ASA404.
Shares were 3 pence higher at 28 pence.
The novel mechanism of action of ASA404 may represent a new approach to
treating the most prevalent cause of cancer death, Swiss pharma group Novartis said.
The start of the trials triggers a $25 million payment to Antisoma, it said.