Volume Spike Investor

XOMA Ltd. (NASDAQ: XOMA) is surging this morning after a late-day run on Thursday. On Thursday, Xoma announced that its bacterial cell expression (BCE) technology licensee UCB S.A. has received FDA approval to market CIMZIA(r) for the treatment of moderate to severe rheumatoid arthritis in adults. XOMA will receive royalty payments on sales of CIMZIA for this indication and will continue to receive royalties on sales of CIMZIA for the treatment of moderate to severe Crohn’s disease, for which it was approved in April 2008.  Shares ran from under $0.70 to $0.85 yesterday, but this morning we are seeing shares up huge.  $1.19 was the last print seen and we have seen almost 1.1 million shares trade as of 8:22 AM EST.  Its average volume is only 1.1 million shares and the 52-week range is $0.37 to $2.40.