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March 29, 2004 Stock Pick: Biomira, Inc. (BIOM)

Stock Price: $2.08

We first released BIOM as a stock pick on October 29th of last year when it was at $1.40. In early December, BIOM hit a high of $4.15 after their lung cancer vaccine showed promising results in midtrial testing. The company has also since completed $12.57 million in financing.

Biomira, Inc. is a biotechnology company specializing in the development of innovative therapeutic approaches to cancer management. This includes the development of synthetic vaccines and strategies for cancer immunotherapy.

BIOM has been holding steady on low volume as of late. We believe it is a great time to accumulate for when that big surge of volume does come back again when good news is released. Volume surged to 85 million on the lung cancer vaccine results last December.

Their lung cancer vaccine, BLP25 Liposome, was granted Fast Track status by the FDA meaning the company can send data in pieces as available instead of waiting to send data all at once. This will speed up its approval if all studies go well and efficacy and safety is proved sufficiently.

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