MultiCell Technologies, Inc. (MCET) surges after reports of Positive Preclinical Results in Primary Liver Cancer In Vitro Models
Shares of MultiCell Technologies, Inc. (MCET) were up as high as 72% from Tuesday’s closing price on Wednesday after the company reported Positive Preclinical Results for MCT-465 and MCT-485 in Primary Liver Cancer In Vitro Models. The penny stock MCET surged with volume up from daily average of 3.57 million to 114.85 million.
About MCT-465 and MCT-485
MCT-465 and MCT-485 are the first of a family of prospective cancer therapeutics based on the use of our patented TLR3 signaling technology. MCT-465 and MCT 485 are in preclinical development, and are being investigated as prospective treatments for primary liver cancer and triple negative breast cancer.
Cancer stem cells are thought to play a role in a tumor’s resistance to therapy. While significant progress has been made in developing cancer therapies that result in cytoreduction and thus tumor regression, the control of cancer over a longer interval and especially of metastatic disease, remains a key goal. Cancer stem cells are believed to be responsible for cancer relapse by being less sensitive to conventional therapies.
MCET’s representatives will present preclinical research findings for MCT-465 and MCT-485 at CIMT (Association for Cancer Immunotherapy) 2012 in Germany, which is Europe’s largest meeting dedicated to cancer immunotherapy research and development.
About MultiCell Technologies, Inc.
MultiCell Technologies, Inc. (MultiCell) is a biopharmaceutical company. MultiCell is engaged developing therapeutics and discovery tools to address unmet medical needs for the treatment of neurological disorders, hepatic disease, cancer and interventional cardiology and peripheral vessel applications. MultiCell is pursuing research and development targeting degenerative neurological diseases, including multiple sclerosis (MS) and cancer. MultiCell operates three subsidiaries, which include MCT Rhode Island Corp. (wholly owned); Xenogenics Corporation (Xenogenics) (95.3% owned, on an as-if-convertd basis), and MultiCell Immunotherapeutics, Inc. (MCTI), of which MultiCell holds approximately 67% of interests. As of November 30, 2010, the Company’s portfolio of drug candidates, which were in various stages of discovery optimization, and preclinical and clinical development included MCT-125, MCT-465, MCT-475 and MCT-485.
