Exponential Price/Volume Alert: MDRNA (MRNA)

Posted in General 
June 9th, 2009

MDRNA Inc. (NASDAQ: MRNA) has received full FDA approval of generic calcitonin-salmon nasal spray for the treatment of osteoporosis. Par Pharmaceutical Companies Inc. (NYSE: PRX) has launched the product.  As far as MRNA is concerned, this is the generic equivalent of Miacalcin® nasal spray, marketed by Novartis, which had U.S. sales of Miacalcin® were approximately $112 million in 2008.

Interestingly enough, MDRNA only had $2.6 million in 2008 sales, but it had $18.1 million in 2007 sales and almost $28.5 million in 2006 sales.

It is not surprising that shares are up, but the amount is shocking.  Shares are up over 110% at $3.25.  The prior 52-week trading range is $0.14 to $1.99.  Its new market cap after the double is $109 million.

We have now seen over 4 million shares trade hands, yet the average volume is only about 235,000 shares per day.

Jon C. Ogg
June 9, 2009

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