Vascular Biogenics Ltd. (VBLT), a clinical-stage biopharmaceutical company yesterday announced positive results from the Data Safety Monitoring Committee (DSMC) of the company’s phase 3 GLOBE trial of VB-111.

The DSMC is an independent group that reviews the safety concerns and provides recommendations for trial continuations. VB-111 is a biologic agent that targets solid tumors. The committee unanimously recommended the study should be continued as planned.  

Vascular Biogenics Ltd.CEO’s Comments

“We are pleased with the outcome of the DSMC,” said Dror Harats, Chief Executive Officer of VBL Therapeutics.  “Based on enrollment trends and events that triggered the DSMC review, we currently expect the GLOBE Trial interim analysis to occur in mid-2017, and top-line results from the full dataset to be available in early 2018.”  Globe Newswire

VBLT Technical Analysis

(Click on image to enlarge)

VBLT opened trading yesterday at $5.15 which was down from the previous day’s trading close of $5.20. VBLT closed trading yesterday at $5.20 and spiked up after market to $6.05, equivalent to a 16% increase from the closing price.

Taking a look at the daily chart we can see that the last time VBLT traded above these levels we have to go back to March 13th when it traded at $6.10. Taking a closer look at the daily chart we can see that before the spike up VBLT had been in an overall downward trend dating back to March 10th when it traded at $6.25. VBLT has a float of 8.32 million shares and traded below the normal daily trading volume on Thursday.