Biotech Daily Special Report October 13, 2006
October 13th 2006 07:58
METABOLIC TRADES HEAVILY ABOVE 60¢
Metabolic passed the 60 cents mark in strong trading yesterday with 1.9 million shares changing hands and today has appeared to have cemented the gain.
The company has been trading around the 40 cents mark for the past 12 months, falling from a high of $2.20 in November 2004.
Metabolic announced trial progress (see Biotech Daily October 5, 2006) a week ago, saying the first 100 subjects had completed the phase IIb dosing study for obesity drug, AOD9604.
Metabolic has commenced recruiting for one of two phase IIa trials ACV1 for neuropathic pain.
The company said the obesity drug AOD9604 had indicated in rat studies that is could prevent and treat osteoporosis and it could have three phase II studies underway next year.
Metabolic is also investigating a platform to transform injectable peptide drugs to enable oral uptake.
Metabolic closed up 6.5 cents or 10.48 percent at 68.5 cents with 1.9 million shares traded.
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