NexMed Take Leader Board

Posted in pre-market 
April 27th, 2010

NexMed, Inc. (NASDAQ: NEXM) is soaring this morning, although this is a penny stock. The company last night announced that the FDA has cleared it to proceed with the proposed Phase 2 trial of PrevOnco as its proprietary cancer treatment for patients with advanced, unresectable hepatocellular carcinoma (liver cancer).

The FDA had granted PrevOnco and orphan drug status back in August 2008, and just last month the company filed its Investigational New Drug application for the product candidate.

Shares closed at $0.40 on Monday and the stock is up over 63% at $0.65 on 1.15 million shares.  This one trades about 3 million shares per day and the 52-week trading range is $0.12 to $0.84… This one has been relegated into penny stock status for over a year, but barely for over a year and it used to be much higher.

JON OGG

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