Eddie Van Halen’s ex-wife may be the star of the show, but Cleveland BioLabs Inc. (Nasdaq: CBLI) stock is proving that it really is hot. CBLI stock price has been as high as $2.40 today after the Company announced strong survival results for its randomized, blinded, placebo-controlled efficacy study of CBLB502. CBLI is currently trading up 59.84% at $2.04 n volume of 2.28 million. The penny stock of Cleveland BioLabs was up as much as 88.98% at the HOD all because the test results were from 179 non-human primates conducted under Good Laboratory Practice with elements of Good Clinical Practice, as required by the U.S. FDA Animal Rule.
Looking for Hot Penny Stocks? Click here and get Alerts on the Best Penny Stocks FREE.
CBLI Stock Chart:
Market Cap (intraday): 72.46M
Price/Sales (ttm): 6.26
Price/Book (mrq): 9.14
52-Week High
(Jun 6, 2011)3: 5.25
52-Week Low
(Apr 20, 2012)3: 1.15
50-Day Moving Avg: 1.49
200-Day Moving Avg: 2.61
Avg Vol (3 month): 183,172
Avg Vol (10 day): 96,486
Shares Outstanding: 35.70M
Float: 32.29M
% Held by Insiders: 12.51%
% Held by Institutions: 17.80%
Shares Short
(a/o May 15, 2012): 3.00M
CBLI is currently trading at 33.54% above the 50 day moving average, -24.06% below the 300 day moving average, -62.29% below the 52 week high of $5.25, and 72.17% above the 52 week low of $1.15.
The study Cleveland BioLabs conducted demonstrated, with a high degree of statistical significance, the dose-response relationship between the administration of CBLB502 and the survival of lethally irradiated animals, the study’s primary endpoint. Animals in the study received a 70% lethal dose of total body irradiation (TBI) followed by a single injection of a range of doses of CBLB502 or a placebo, in each case, 25 hours after irradiation. In addition to determination of 60-day survival, the study measured multiple pharmacodynamic parameters which the Company believes are essential for animal-to-human dose conversion.
About CBLI Stock
Cleveland BioLabs, Inc. is a clinical-stage biotechnology company leveraging deep mechanistic understanding of the cell death process, apoptosis, to develop a robust pipeline of compounds primarily focused on oncology applications and mitigation of radiation injury. The Company’s lead compound is being developed as both a radiation countermeasure and a direct acting anticancer agent. The Company has two operating subsidiaries, Incuron, LLC, and Panacela Labs, Inc., and strategic relationships with the Cleveland Clinic, Roswell Park Cancer Institute, the Children’s Cancer Institute of Australia and the Armed Forces Radiobiology Research Institute.
Bottom Line: CBLI is leading all the big boards for percentage gains thus far today and the best performing of the big board listed penny stocks. There is still plenty of room for CBLI to gain, but considering this was a results announcement and not an acquisition, CBLI PPS and volume should return to normal levels after today’s trading session.
Here is your opportunity to subscribe to the most elite penny stock newsletter.
Sign up with your email address now & get ready to make HUGE PROFITS on stocks that RUN.
(We are 100% Anti-Spam and will never rent or sell your information)
ShareJUN
