Prima Biomed shares are going nuts over a breast cancer treatment

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Prima Biomed shares jumped more than 25% after European authorities endorsed the further development of a treatment for breast cancer.

The European Medicines Agency (EMA) confirmed its endorsement for a development program of Prima Biomed’s IMP321 treatment.

A planned study is now expected to start in Europe in the 4th quarter of 2015. This is a key step leading to marketing authorisation in the EU.

Frédéric Triebel, Prima’s chief scientific and medical officer, says the EMA’s scientific advice represents a “significant step forward”.