Biotech Stock Update

It's been a tumultuous two days on the stock exchange and, like the other sectors, many biotechnology stocks have not fared well, but life must go on and so does the research. There has been good news among the bad. One particular startup, InNexus Biotechnology saw it's penny stocks rise by 16% today, to 14 cents, despite markets falling all around. It's a small increase by some standards, but financing a startup is never easy and, in this case, it's not only a significant achievement but evidence that the week's events don't necessarily mean the end of the smaller players.

In a news release today, InNexus announced the promising performance of a monoclonal antibody-based drug for treating tumours. Mice injected with the drug had a greater survival rate than mice injected with the currently available antibody drug Rituxan(R). InNexus plans to publish the data from this trial and continue striving towards achieving milestones such as moving on to primate studies and soon testing the drug in humans.