Pre-Market Gapper: Osiris Therapeutics (OSIR, GENZ)

Posted in pre-market 
November 4th, 2008

Osiris Therapeutics (NASDAQ: OSIR) is seeing its stock surge pre-market after signing a pact with Genzyme (NASDAQ: GENZ) to develop and commercialize adult stem cell products.  Genzyme will pay out cash and will make an up-front payment of $130 million to Osiris, which is substantial to the $493 million market cap as of yesterday.  Osiris was also just mentioned yesterday as one of the many stem cell beneficiaries of the 2008 presidential election.

Osiris stock is surging on this one, although on somewhat thin trading volume.  Shares are up 16% at $18.00 and its 52-week trading range is $9.98 to $20.20.  Its average daily volume is only 151,000 shares, so we’d expect a possible exponential volume surge today.

The stock does have options and we’d note that there didn’t seem to be any fishy numbers in the open interest, and we’d also note that the options are not that active.

Jon C. Ogg
November 4, 2008

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