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Big Mover; Cleveland BioLabs Inc. (CBLI)

By Warren Paige

Shares of Cleveland BioLabs Inc. (NASDAQ: CBLI), a biotechnology company engaged in the development of biodefense, tissue protection and cancer treatment drugs that are based on the concept of modulation of cell death for therapeutic benefit, are soaring today after the company reported strong survival results that met the primary endpoint of its Good Laboratory Practice (GLP) efficacy study.

At last check, CBLI shares were trading 62.20% higher at $2.06 on above average volume of 1.46 million.

The efficacy study of CBLB502 was conducted on 179 non-human primates (NHPs). The study was conducted under GLP with elements of Good Clinical Practice (GCP) as required by the FDA’s Animal Rule. The study results showed a high degree of statistical significance the dose-response relationship between the administration of CBLB502 and the survival of lethally irradiated animals.

Yakov Kogan, Ph. D., Interim CEO of Cleveland BioLabs, said that CBLB502 continues to exceed CBLI’s expectations.

June 4th, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.