Immunomedics, Inc. (NASDAQ: IMMU) has spiked higher on a US patent #7,641,901 in a released titled âPotential Lupus Drug Gains U.S. Patentââ¦. After HGSI the lupus word is all thatw as needed.Â The company already has 141 US patents and 302 worldwide patentsâ¦. Shares are off of highs alreadyâ¦ Its $3.93 price is a gain of 20.2% after a $3.27 close yesterday and its 2.95 million shares as of 10:49 AM EST compares to average daily volume of 823,000 shares.Â The market cap is $295.5 million after the gain, and the 52-week trading range is $0.84 to $7.17.
For whatever this is worth, the stock does trade options and the volume there has spiked up as well: the JAN10 $5 CALLS traded 1,499 contracts versus an open interest of 4,620 contracts.Â The same strike for FEB10 traded 435 contracts versus 2,901 open interest.
JON C. OGG