STOCKS NEWS UK SMALL-Oxford BioMedica rises after IMS

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1040GMT 14May2009-Oxford BioMedica rises after IMS

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Shares in Oxford BioMedica (OXB.L) rise 11 percent after the company issues a positive interim management statement.

"Oxford BioMedica provided some encouraging reference points regarding its development pipeline, which position the business on the path to recovery," say analysts at Panmure Gordon in a note to clients.

However the broker adds that before it changes its "hold" recommendation, it is waiting for the FDA to clarify the safety of the company's TroVax drug, which failed a Phase III clinical trial in renal cancer last year. [ID:nWLA6188]

To see the company's statement please click on [ID:nRnsN2181S]

Reuters messaging rm://ben.deighton.thomsonreuters.com@reuters.net

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