Drug Company to Use O.C. Imaging System
Dow Jones
ChromaVision Medical Systems Inc.’s stock surged more than 30% Thursday after the company said that ImClone Systems Inc. will use ChromaVision’s Automated Cellular Imaging System to research and develop cancer drugs.
The deal is the San Juan Capistrano company’s first significant collaboration with a drug manufacturer, analysts said.
The stock rose $1.24 a share to $5.30 in Nasdaq trading.
ImClone’s shares closed at $49.63, up $2.33, in Nasdaq trading.
