Gentium Already Trades Full Day's Volume by 8:30 AM (GENT)

Posted in pre-market 
August 19th, 2009

Gentium S.p.A (NASDAQ: GENT) is surging on reports of its Phase III treatment trial of Defibrotide for severe veno-occlusive disease.  The trial was designed to evaluate the safety and efficacy of 25 mg of Defibrotide for the treatment of severe veno-occlusive disease in hematopoietic stem cell transplant patients and showed strong trends in favor of the Defibrotide-treated patients for complete response and survival.  What is odd is that the trial did not reach the protocol-specified levels of significance for the primary and secondary endpoints at 100 days. Adverse events were well balanced between the historical control and treatment arms and Gentium will present full the results at the American Society of Hematology Conference in New Orleans in December.  Shares are up over 7% at $3.65 in early trading as of 8:17 AM EST.  We have also seen 71,000 shares trade hands with more than an hour until the market opens.  Average volume here is only 62,000 shares.  Before the gain, Gentium had a market cap of close to $51 million. -JON OGG

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