Biopharmaceutical company Oxigene Inc. said Wednesday its antitumor drug candidate passed a midstage study aimed at identifying the dose necessary to cut off blood flow to tumors.

The drug candidate, called CA4P, also proved safe and effective in the randomized, open-label Phase II study involving 13 patients, the company said. It was given in doses of 45 milligrams or 63 milligrams, followed by chemotherapy drugs paclitaxel and carboplatin.

The company said imaging confirmed that blood flow shutdown was observed in a wide variety of malignancies and safety was in line with expectations.

The results will be presented at an upcoming scientific meeting.

Shares of Oxigene rose 33 cents, or 7.1 percent, to $4.95 on the Nasdaq. The stock has traded between $2.82 and $5.88 over the last 52 weeks.