MedImmune shares still rising on testing gains for infant drug

January 12, 1995|By Bloomberg Business News

GAITHERSBURG -- MedImmune Inc. shares rose yesterday for a second day after the company's announcement Monday that it will soon complete Phase III trials for a new intravenous drug.

The drug, RSVIG-IV, is for the prevention of respiratory syncytial virus in high-risk infants. The virus is a leading cause of pneumonia and bronchiolitis. Phase III trials are typically the last before drugs are submitted to the Food and Drug Administration for approval.

The stock closed up yesterday $1.125, or 25 percent, at $5.625, in active Nasdaq trading of 513,200 shares, compared with its average three-month daily volume of about 40,000.

Alex. Brown analyst Kevin C. Tang said MedImmune management has been in New York the last two weeks giving shareholders a general update. Gaithersburg-based MedImmune makes therapeutics and vaccines for treating and inhibiting cancer and some infectious diseases.

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