SOURCE: BioMedReports.com

BioMedReports.Com

December 15, 2009 13:43 ET

Trade Alert Issued for Novelos Therapeutics, Inc. (NVLT.OB) as Pivotal Phase III Drug Trial Patients Are Living Longer Than Expected

LOS ANGELES, CA--(Marketwire - December 15, 2009) - BioMedReports.Com, the news portal which covers Wall Street's biomedical sector and delivers financial and investment intelligence to a community of highly informed investors, has issued a trade alert for Novelos Therapeutics, Inc. (OTCBB: NVLT).

In an interview with Novelos Therapeutics, Chief Executive Officer Harry S. Palmin shared that investigations involving the company's lead compound, NOV-002, currently in a Pivotal Phase III trial for lung cancer under SPA and Fast Track, have gone on longer than expected.

"It's a 900 patient trial that was expected to read out some time during the middle of this year, but the patients are living longer than expected," explains Palmin. "In fact, we are now expecting conclusion of the trial early in 2010."

The company's drug technology is revolutionary because on the one hand, it potentiates chemotherapy, which provides better survival and better anti-tumor effects, but on the other hand together with chemotherapy, it also appears to help patients recover from the toxicity of chemotherapy.

The trade alert is available now at BioMedReports.Com and a full interview with the CEO of the company will appear on the news portal tomorrow.

Biotech investors interested in accessing the news portal's complete database of clinical trials and upcoming FDA decisions can access that information here:

http://biomedreports.com/fda-calendar/fda-calendar.html

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