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06:47PM (15 mins delay)
Oct 08, 2009 - 3:52 PM EDT
EP Vantage submits:OncoGenex Pharmaceuticals (OGXI) is certainly shaping up to be one of this year’s success stories, on the stock market at least. And, by all accounts, the company’s stratospheric journey is not over yet.
Startling results from a phase II trial of its lead product, OGX-011 for advanced prostate cancer, have prompted the stock to surge from $3 to $37 this year, marking one of the best returns seen across the sector. The company has promised a licensing deal by the end of the year so the drug can move swiftly into pivotal trials, and investors are clearly betting on big bucks, possibly even a take out. With a market value of $220 million, OncoGenex could still have some way to run.
Source: Seeking Alpha (Oct 08, 2009 - 3:52 PM EDT)
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