Bionovo, The Daily Bio-Chase (BNVI)

Posted in pre-market 
December 29th, 2009

Bionovo, Inc. (NASDAQ: BNVI) is not exactly a household name, but the stock is trading up this morning as investors and speculators are chasing any biotech stocks with news if they are low-priced and small cap.  The company announced the publication of results from its study on the anti-tumor mechanism of BN107 in the International Journal of Cancer describing the potential molecular mechanisms mediating the selective pro-apoptotic effect induced by BN107 on estrogen receptor negative breast cancer cells.  At 8:44 AM EST we have shares up 16% at $0.52 on 371,000 shares traded.  Average volume is 818,000 shares and the 52-week trading range is $0.17 to $1.15.  As of yesterday’s closing price of $0.449 this one had a market cap of approximately $48.3 million.


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