UPDATE 1-MethylGene's drug to treat tumor shows promise
Thu Nov 18, 2010 11:11am EST
* Says one of the 4 NSCLC patients showed partial response * Shares up 25 pct
Nov 18 (Reuters) - Canadian drug developer MethylGene Inc (MYG.TO) said its experimental drug to treat solid tumor showed promise in a mid-stage trial, sending its shares up as much as 25 percent.
The company's drug MGCD265 is given to patients in combination with either commonly used chemotherapy drug docetaxel or non-small cell lung cancer (NSCLC) drug erlotinib.
One of the four NSCLC patients, who experienced stable disease for durations ranging from 8 to 13 months, achieved a confirmed partial response and the other three patients all had tumor shrinkage, the company said.
The company's shares were up 21 percent at 17 Canadian cents on Thursday morning on the Toronto Stock Exchange.
They had touched a high of 17.5 Canadian cents, earlier in the session. (Reporting by Isheeta Sanghi in Bangalore; Editing by Prem Udayabhanu) ((isheeta.sanghi@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: isheeta.sanghi.thomsonreuters.com@reuters.net))
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