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Ciphergen Stock Soars 26.5 Percent on Positive ProteinChip Data

NEW YORK, Dec. 7 (GenomeWeb News) - Shares in Ciphergen Biosystems were up 26.5 percent at $4.20 in unusually heavy volume late this afternoon after the company said its technology could be used to detect certain cancers in platelets.

 

The stock was up $.88 after Ciphergen said research performed at Children's Hospital Boston showed that its flagship ProteinChip platform can analyze circulating platelets and diagnose cancer. More than 3.3 million shares traded hands today, compared to an average of around 160,800 shares that trade hands on an average day during the past three months. The stock reached a height of $4.71 during morning trading but settled down to its current price in the afternoon.

 

By using Ciphergen's SELDI-TOF technology to read platelet extracts from mice, the CHB researchers "found that this novel property of platelets detects human cancers of a microscopic size undetectable by any presently available diagnostic method," study authors Giannoula Klement and Judah Folkman were quoted as saying in a Ciphergen statement today.

 

The researchers presented their findings at the American Society for Hematology 46th Annual Meeting in San Diegoyesterday, Ciphergen said.

 

The platelet angiogenic profile is "more inclusive" than traditional single biomarkers "because it can detect a wide range of tumor types and tumor sizes," Ciphergen said in its statement. "Relative changes in the platelet angiogenic profile permit the tracking of a tumor throughout its development, beginning from an early in situ cancer."

 

To arrive at their results, the CHB team used the ProteinChip to compare platelets from mice bearing "clinically undetectable" tumors of human liposarcoma with tumor-free mice. The technology showed "increased amounts" of angiogenic regulatory proteins in platelets, including VEGF, bFGF, PDGF, PF4, endostatin, and tumstatin. The proteins were not found in plasma.

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