Epicept: How Long Will Investors Wait?

| About: EpiCept Corporation (EPCT)

Shares of Epiecept (OTC:EPCT) rose nearly 15% in early trading on Thursday after the company released news regarding its early stage anti-tumor agent Crinobulin.

The full results of an already completed Phase I trial will be presented at the annual American Society of Clinical Oncology (OTC:ASCO) meeting that commences on May 29, 2009 in Orlando, Florida.

Early indications for this product are encouraging and a Phase Ib trial is planned to begin during the second half of this year, according to CEO Jack Talley.

EPCT traded on four times the average daily volume by the noon after this news was released.

Crinobulin is still a long way off in the clinical pipeline phase of its development, so I have a hard time believing that the increase in price and volume was in response to this news release.

More than likely, investors are taking a position in the stock in anticipation of the long promised announcement of a marketing partner for Ceplene in Europe. If CEO Talley is to be taken at his word, that announcement should be forthcoming in short time.

It's also likely than an update on Azixa, a treatment for Metastatic brain cancer which Epicept has partnered with Myriad, could be pending. Past updates regarding the potential of Azixa have spiked EPCT as high as four dollars.

So, while the Crinobulin news is encouraging, there is far more immediate news pending that could move this stock.

VFC is long EPCT