Point Therapeutics Inc shares jumped 22% to $1.53 in Monday morning trade after the Boston-based biopharmaceutical company said new data in an osteosarcoma model demonstrated that mice treated with talabostat, the company's lead product candidate, had a four-fold decrease in the number of primary tumors compared to saline treatment.

In a separate experiment, the company said mice treated with talabostat had a 20-fold decrease in the number of metastatic lung nodules. The studies were presented at the annual meeting of the International Society for Biological Therapy of Cancer Development in Los Angeles.