Nuvelo, Inc. (NUVO) Up 21% on News of Positive Results from Phase 1 Clinical Trial
This morning, Nuvelo announced positive results from the Phase 1 trial of recombinant, secreted protein, NU206, the company’s lead compound from its Wnt Therapeutics Program. The single-center, double-blind, placebo-controlled, single-ascending dose (SAD) trial involved 32 healthy male volunteers. According to the press release, NU206 caused no serious adverse side effects and pharmacokinetics were predictable. Dr. Ted W. Love, chairman and CEO of Nuvelo, stated, “Based on preclinical studies, we believe that NU206 promotes cell growth and repair, and, based also on results from this Phase 1 trial, believe it has the potential to offer a novel approach for the treatment…