EPIX Screamer on 25-Times Volume (EPIX)

Posted in General 
December 22nd, 2008

Epix Pharmaceuticals Inc (NASDAQ: EPIX) did something crazy today, even for a micro-cap, even for a quiet market, and even for FDA news.  Its Vasovist imaging agent for magnetic resonance angiography was approved for use in detecting narrow or blocked blood vessels carrying oxygenated blood from the heart.  Vasovist is already marketed in 34 countries outside the United States.

Shares more than tripled to $1.20 on more than 4.5 million shares, and its 52-week trading range is $0.21 to $4.41. Its average daily volume is only about 185,000 shares, so this is on roughly 25-times volume.  This was also in the last hour or so of trading.

Its market cap at the close was only $50 million, and that is AFTER the run-up.

Sometimes stocks go nuts when there are few issues elsewhere to focus on.

JON OGG
DEC. 22, 2008 (4:01PM EST)

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