Volume Spike Investor

Momenta Pharmaceutical Inc. (Nasdaq: MNTA) shares are up more than 4 percent in fairly strong premarket volume after the company said its novel anticoagulate M118 reached its primary endpoint in a Phase II clinical study in treating acute coronary syndrome.

The stock will now be on watch, to see if it can break resistance at the year highs near $12.50, even after a rapid climb of more than 3 points near $12 so far in June.

The company’s M188 had similar results to a control group, demonstrating its non-inferiority as a treatment.  The incidence of serious and non-serious adverse events was comparable in all treatment groups. — Mike Tarsala