Hollis-Eden Pharmaceuticals up, cancer drug promising

Hollis-Eden Pharmaceuticals, Inc.’s (Nasdaq: HEPH) prostate cancer drug inhibits tumor growth, the San Diego-based company announced before the opening.

Data reported in an oral presentation at the 4th International Conference on Tumor Progression & Therapeutic Resistance in Philadelphia demonstrated that the drug HE3235 inhibited tumor growth in a study of hormone-independent prostate cancer. The study was conducted by Eva Corey of the University of Washington, who injected mice with human prostate cancer cells and then treated some with HE3235.

Scott Rieger, Director of Corporate Communications at Hollis-Eden, confirmed that the company will submit a New Drug Application (IND) to the U.S. Food and Drug Administration in the first quarter of 2008. Pending the receipt of regulatory approval after a 30-day review period, Hollis-Eden plans on initiating a Phase I clinical study, Rieger said in a phone interview.

Rieger explained that HE3235 was developed using hormones naturally occurring in the human body and is administered orally. The company is also working on a similar drug, which will be used as treatment for type II diabetes and rheumatoid arthritis.

Prostate cancer, which develops most frequently in men over fifty, results in about 30,000 deaths each year in the United States, according to statistics released by Hollis-Eden. Hormone-independent tumors are associated with late-stage prostate cancer, for which there is currently no treatment.

At closing, Hollis-Eden Pharmaceuticals (HEPH) shares had gained $0.50, or 25%, to $2.54. The 52-week high is $7.49, established on Nov. 7, 2006. The 52-week low of $1.42 was touched on Aug. 17.

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