One pharmaceutical stock is up an insane 280% and has been halted 6 times today
The last two trading sessions have been wild for Aquinox Pharmaceuticals.
On Friday, shares spiked by up to 400% after the company reported earnings numbers, and positive trial results for a drug that treats bladder pain syndrome.On Monday, the stock surged by up to 365%. It's now up more than 1000% from Thursday's closing price of $1.79 per share.Advertisement
This type of move higher (or lower) is not all that uncommon for pharmaceutical and biotech companies, whose revenues are sometimes underpinned by one key drug that has to pass through several trials before it hits the shelves.
Aquinox Pharma is now worth about $422 million.Trading was halted at least six times in the first two hours of trading on Monday, after it crossed so-called circuit breaker limits that aim to reduce volatility.