Micromet hits 52-week-high on experimental cancer drug results
Micromet Inc. (NASDAQ:MITI) hit a new 52-week-high this morning as the stock continued to benefit from positive data on one of its cancer drug candidates being published in Science magazine.
The Bethesda, Md., biopharmaceutical company says its experimental drug blinatumomab has produced promising early-stage results in patients with a fatal form of blood cancer.
The data were published in last week's issue of Science, and Micromet issued a statement on the topic on Aug. 14.
Since then, the stock has been steadily climbing from Aug. 13's close of $3.97. By mid-day today, it was at $5.97, up $0.52, or 9.5%, from Friday's close on heavy volume. The stock had traded as low as $1.22 and as high as $5.75 (on Aug. 15) in the past year.
For detailed price information and news stories on Micromet, click MITI.
About the Author
Contributing author Mary Ann Azevedo has more than 13 years of writing and editing experience that includes coverage of a broad range of companies.
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