Vascular Biogenics (VBLT) Stock Surges On Topline VB-111 Phase 2 Trial Results

Vascular Biogenics Ltd (VBLT) is a big mover this session, as its shares are up nearly 25%. The surge came after the biotechnology company announced top-line interim results from its ongoing Phase 2 study of VB-111 in patients with recurrent glioblastoma (rGBM), which demonstrated a statistically significant improvement in overall survival in patients treated with VB-111.

“We are extremely pleased by these interim results and are particularly excited to see a statistically significant improvement in overall survival in this needy patient population. We believe VB-111’s ability to curb disease progression in this devastating illness further reinforces its broad potential as a gene therapy for a range of solid tumor indications,” said in a statement Dror Harats, M.D., CEO of VBL Therapeutics. Vascular Biogenics’ pivotal Phase 3 clinical trial is expected to initiate in mid-2015.

VBLT shares recently gained $1.33 to $6.92. In the past 52 weeks, shares of Yehuda, Israel-based clinical-stage company have traded between a low of $3.09 and a high of $17.02. Shares are down 33% year-over-year ; up 16.8% year-to-date.

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