Bionovo shares leap on FDA's green light

Shares of Emeryville, CA-based Bionovo ($BNVI) jumped 25 percent this morning after the developer announced that the FDA has approved its clinical trial plans for its lead drug Menerba, which is in development as a new treatment for hot flashes. "As anticipated, they agreed with our overall clinical development plan which included the number of clinical trials, number of subjects and length of exposure as well as non-clinical studies necessary for New Drug Application submission for a non-estrogen drug such as Menerba. They also provided useful suggestions for improving the clinical trial protocols," said Mary Tagliaferri, M.D., Bionovo's president and CMO. Bionovo release