Cancer drug trial boosts NeoPharm.

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  • Additional Information
    • Subject Terms:
      UNITED States; ILLINOIS
    • Subject Terms:
      NEOPHARM Ltd.; UNITED States. Food & Drug Administration
    • Abstract:
      This article reports that Lake Forest, Illinois-based biotechnology company NeoPharm Inc.'s stock perked up on encouraging test results for its brain cancer drug. Shares of the closed at$ 11.25 Friday, up 44% in the two weeks since the firm's treatment for a particularly deadly form of brain cancer showed surprising promise in a clinical trial. The results suggest NeoPharm may get permission ahead of schedule from the U.S. Food and Drug Administration to sell the drug. NeoPharm CEO Gregory P. Young estimates the market for the drug at $500 million annually. NeoPharm's drug, known by its code name, IL13-PE38, targets glioblastoma multiforme, the type of brain tumor that killed TV sportscaster Tim Weigel and film critic Gene Siskel.