Novelos Therapeutics, Inc. (NVLT.OB) Nearly Doubled in Price Since Coverage by QualityStocks Newsletter

By IBTimes Staff Reporter | January 27 2010 11:48 AM

Novelos Therapeutics Inc.’s shares have nearly doubled in price since the company was initially covered in QualityStocks’ FREE Daily Newsletter. Novelos was mentioned in the newsletter only a few short weeks ago – on December 15, 2009 – when the stock was trading for only $1.09 a share. Since then the stock has climbed to a current price of $2.07 a share. That is a spectacular rise in such a short time!

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Novelos Therapeutics is a biopharmaceutical company commercializing oxidized glutathione-based compounds for the treatment of cancer and hepatitis. The company’s lead compound – NOV-002 – is in Phase 2 development for early-stage breast cancer and chemotherapy-resistant ovarian cancer. More importantly, the compound is in Phase 3 development for lung cancer (and being fast-tracked by the FDA) and acts together with chemotherapy as a chemoprotectant and chemopotentiator. In addition, the company’s NOV-205 is in Phase 1b development for chronic hepatitis C non-responders.

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