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(EMAILWIRE.COM, March 18, 2012 ) New York, NY -- Lpath, Inc. (LPTN.OB) settled some uncertainty last week when an expected date was announced to restart the halted iSONEP trials.
The announcement failed to initially spark any move in the share price, but on Friday volume was twice the daily average and LPTN jumped by four percent before the day was done.
Lpath is the recognized leader of lipid-based therapeutics and the company's pipeline products are based on the proprietary ImmuneY2 platform, which contains the ability to generate therapeutic antibodies that bind to and inhibit bioactive lipids that contribute to the spreading and growth of various diseases and inflammatory/auto-immune disorders.
The potential of the technology and the fact that Lpath is the only company to have taken it so far along in trials has already attracted the attention of Pfizer (PFE), who came on board early as a partner for iSONEP and holds a 'first right of refusal' regarding the ASONEP line.
LPTN shares have already taken a dive on two occasions this year, the first slide coming on the announcement of the trial halt and the second came after news of a financing agreement valued shares well below where they were trading on the open market at the time.
Now, however, shares could be shaping up for a rebound since it looks like the bad news is all out of the way.
Although halting the iSONEP trials was a setback, it was only a temporary one since the halt was related to the company's finish/fill contractor not adhering to some FDA 'good practices,' and had nothing to do with the safety and efficacy of the treatment.
An alternate has already been found for the finish/fill contractor, and as mentioned above, the trials are set to restart in August, providing a potential catalyst for investors who are increasingly optimistic about Lpath's technology and pipeline.
Friday's price and volume spike justifies keeping this one on the watch list for the time being, as stocks such as this one tend to move quick when they move.
Worth keeping an eye on.
Disclosure: Long LPTN.
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Source: EmailWire.com
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