Acorda Therapeutics Inc.'s volume rose after the biotech drug developer announced a private placement of around 3.2 million newly issued shares of common stock at $9.75 per share, expected to close on Friday. Volume increased to 13 million shares, versus average volume of 1.6 million shares, with the stock climbing $1.32, or 10 percent, to $14.89.
Biotechnology company Panacos Pharmaceuticals Inc.'s volume tripled to 1.5 million. Earlier in the day, the company received an upgrade by Caris & Company to "Buy" from "Above Average." Shares climbed 53 cents, or 9 percent, to $6.16.
I'm all over this one. I will let you know if I decide to pull the trigger on this.
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