Rod Bryden is not a man without critics, but the news that his management consulting firm has been engaged by PharmaGap Inc. sent the cancer drug developer's stock through the roof Tuesday.

During the morning session on the TSX Venture exchange, PharmaGap's stock shot up as much as 78.6 per cent, or 12 cents, to 50 cents a share as institutional investors responded to the news.

The stock finished the day up 35.7 per cent, or 10 cents, to 38 cents a share. Volume was about 30 times the average of around 4,000 shares.

( What do think Tuesday's runup in PharmaGap's share price says about the market's perception of Rod Bryden and his management abilities? Visit our discussion board at: http://discussion.ottawabusinessjournal.com/article.php?sid=265 )

On Monday, PharmaGap announced an overhaul of its management team as part of an agreement with SC Stormont, Mr. Bryden's management consulting company. Mr. Bryden is taking a seat on the board, while Stormont executive and long-time Bryden associate Robert McInnis will serve as president and CEO.

Mr. Mcinnis is replacing Simon Goulet, who has taken the role of executive VP and COO. Mr. Goulet joined PharmaGap last year after working 10 years as an investment banker involved in venture capital in Toronto and New York.

The six-year-old company, spun out of the laboratories of the National Research Council, is still in the pre-clinical trial stage of development with its cancer treatments.

At this point, its efforts are focused on a treating a rare form of children's cancer that is inevitably fatal called neuroblastoma.

Its lead compound, with some minor modification, has also proven promising in offsetting the drug resistance that cancer cells often develop to chemotherapy treatments. As resistance grows the chemo drugs become less effective. Dosages must be increased, which increases the risk and severity of side effects.