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Acorda Therapeutics, Inc. (NASDAQ: ACOR) was covered already this morning for its significant price-volume alert. Including teh after-hours session at 4:45 PM EST we saw some 14.54 million shares trade and the stock closed out down 21% at $17.52. This volume is impressive even if the price drop is not, but there was also a huge jump in the options trading for OCT-2009. Here is the options volume today with a comparison to the open interest to show just how active this was:
CALL$   Volume   OpInt
17.50Â Â Â 6,020Â Â Â 931
20.00Â Â Â 20,124Â Â Â 1,184
22.50Â Â Â 2,536Â Â Â 6,054
25.00Â Â Â 35,130Â Â Â 5,919
30.00Â Â Â 6,497Â Â Â 8,258
PUT$   Volume   OpInt
7.50Â Â Â 1,805Â Â Â 310
10.00Â Â Â 6,758Â Â Â 1,484
12.50Â Â Â 4,989Â Â Â 2,511
15.00Â Â Â 14,979Â Â Â 9,448
17.50Â Â Â 10,468Â Â Â 12,271
20.00Â Â Â 4,884Â Â Â 10,206
The FDA made its data public today:
JON C. OGG
OCTOBER 9, 2009
Sequenom Inc. (NASDAQ: SQNM) is surging higher again today. At 10:35 AM EST we have not seen an exponential volume alert as the volume is now just over 7 million shares versus 9.4 million on average. But the stock is up another 9.8% at $3.67. This one has risen since meeting with the SEC and other regulatory and enforcement agencies. Traders keep touting that there may be no intentional wrongdoing from management and the top brass that was recently canned, although it seems a bit premature to make any definite assumptions along that line. Trust is just hard enough to come by, let alone in companies which have had issues such as this. This is still very much an at-risk company, although making any predictions at this point would be based entirely upon incomplete data that still has many unknowns. Stay tuned.  -JON OGG
AVANIR Pharmaceuticals, Inc. (NASDAQ: AVNR) is surging on strong volume this morning. The company announced additional detailed results from the confirmatory double-blind Phase III STAR trial evaluating two doses of the investigational drug Zenvia™ in the treatment of pseudobulbar affect among patients with underlying multiple sclerosis (MS) or amyotrophic lateral sclerosis (ALS). Zenvia met the primary efficacy endpoint by reducing PBA episode rates by an incremental 11.9% beyond placebo. The lower dose Zenvia group did not achieve a statistically significant reduction in PBA episode rates compared to placebo. Where this ultimately trades is still up in the air, but shares at 8:43 AM EST have seen 385,000 shares trade and the last trade was up 13% at $2.60. The average volume is 1.95 million shares and the 52-week trading range is $0.23 to $4.09. -JON OGG