San Diego based Vical announced today that an Independent Safety Monitoring board has completed the Phase 3 trial safety analysi sand is recommending a continuation of the testing with an enrollment of 375 subjects within the next few weeks.
Upon release of the results, Vical has experienced a healthy jump in their stock price wich is currently trading up .75 (+27.27%) for the day. VICL is enjoying a volume of 8,916,193 from their average of 538,039
Vical's product for testing is Allovectin – 7 (R)(Immuno theraputic for Melastatic Melanoma). The therapy is being used as a first-line attack against stage three or four metastatic melanoma.
AnGes MG is funding the AIMM trial through cash payments, Vical has received all 22.6 million dollars promised by AnGes who is retaining the exclusive marketing rights in their Asian market. Vical is required to pay royalties on U.S. sales based on a tiered system plus milestone payments.
Allovectin is a plasmid complex which when injected directly into tumors stimulates an immune response to Metastic tumors. The research is groundbreaking and involves the use of proteins to stimulate a sticken individuals own immune system to fight cancer rather than invasive chemotherapy techniques. There are currently no effective therapies for advanced stages of Metastatic melanoma, and all forms of treatment approved by the FDA include toxic use of interleukin or dacarbazine. Both of these drugs have life-threatening side effects. Again, there are no specific treatment for Metastatic Melanoma currently, many patients have been forced to seek out a drug called Termozolomide which is orally delivered, but is specifically used to fight certain types of Brain Cancer. Vical's research and approval for Allovectin is essential to treating people who are plagued by this disease.
The marketing or Allovectin is considered part of the Orphan Producs Development by the FDA which allocates tax benefits as well as marketing rights for 7 years in the U.S. Exclusively.