/biz/ - Business & Finance

>>26354973

Shares of Celsion Corp [CLSN] shot up 85.1% toward a six-month high in very active premarket trading Thursday, putting the stock on track to more than double in two days after the cancer drug development company disclosed that it terminated a previously announced share purchase agreement with Lincoln Park Capital (LPC).

If they terminated the sale purchase agreement, it means they don't need the money because they are going to merge. Even without a merge announcement, they are due to report on Phase III cancer treatments any day now, and such an announcement would carry the stock into the double-digits.

[CLSN] has more than doubled (up 116.5%) over the past three months through Thursday.

Of greatest interest to me as a scientist is the completion of an Oxford study using Celsion's proprietary ThermoDox technology for targeted delivery of Doxorubicin to tumors in the body. Phase III (yes THREE) of the study was completed in July of 2019 in the United Kingdom. The primary endpoint of ensuring a two-fold concentration of drug targeted the tumors (compared to healthy tissue) in over 50% of the patients was met (having been met for 66% and 75% of the patients in each of 2 cohorts, respectively): https://clinicaltrials.gov/ct2/show/results/NCT02181075?term=Celsion&draw=3&rank=14

I'm sure it didn't get much coverage over here because it was completed in the UK.

Scientifically, this means Phase III endpoints for ThermoDox in the USA trial will be a success, which makes me extremely bullish, and it also explains why there was no need to follow through with the fundraising measure of selling stock to a finance company at this point, because they know they have a good thing. For all we know, they may already be in talks or even had an offer for a merge or a buyout by a larger company (like Gilead, for example), but their latest move shows they are not worried about money, which is an extreme "buy and hold" signal.