Biomira Inc. (BIOM)

Biomira, Inc., a biotechnology company, engages in the research and development of therapeutic products for the treatment of cancer primarily in the United States and Canada. It focuses on the development of synthetic vaccines for active specific immunotherapy. The company's lead cancer vaccine candidate under Phase III clinical development includes a synthetic Mucin 1 peptide vaccine, Stimuvax. It is also developing MUC 1-based liposomal glycolipopeptide cancer vaccine, BGLP40 liposome vaccine, for use in various cancer indications. BGLP40 liposome vaccine is in pre-clinical development. In addition, Biomira is developing small-molecule drugs that inhibit redox and cell-survival signalling proteins, through its subsidiary ProlX Pharmaceuticals Corporation. This product line includes PX-12, a small molecule inhibitor of thioredoxin under Phase 1 trial; PX-478, a small molecule inhibitor of hypoxia inducible factor-1alpha, which is in late stage pre-clinical development; and PX-866, an inhibitor of the phosphatidylinositol-3-kinase (PI-3-kinase)/PTEN/Akt pathway in late pre-clinical development. The company has a product development, licensing, and co-promotion collaboration agreement with Merck KGaA. Biomira was founded in 1985 and is headquartered in Edmonton, Canada.

For the six months ended 30 June 2006, Biomira Inc.'s revenues fell 20% to C$1.5M. Net loss rose 7% to $9.8M. Revenues reflect reduced clinical incomes in anticipation of finalizing the amendments to the existing supply and collaboration agreements with Merk for the future clinical development of Stimuvax. Higher loss reflects increased research & development costs and higher general & administrative expenses.