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Biomira Inc (BIOM) (1.80 -0.29)
BIOMIRA INC. released more data from a study for a lung cancer vaccine being developed with Germany's Merck KGaA, and its shares fell. The company said additional data from the midstage study showed that patients using the vaccine survived longer than those without. The vaccine, called BLP25, is designed to treat nonsmall-cell lung cancer, the type of cancer most associated with smoking. "I think it's odd that the stock is down. (The data) is moving the drug ahead," said Karen Boodram, an analyst with Pacific International Securities in Canada. "It's showing a survival advantage, and you compare that with other therapies that are in the market or in development currently and under review, and that's significant survival data to warrant moving forward." (Reuters 02:50 PM ET 05/16/2005 More...)