Volume Spike Investor

Transcept Pharmaceuticals, Inc. (Nasdaq: TSPT) is seeing a gain of more than half  on an exponential volume alert surge.  The company and Purdue Pharmaceutical Products L.P. entered into an exclusive license and collaboration agreement to commercialize Intermezzo in the United States. If this is approved by the FDA it has the potential to be the first prescription sleep aid specifically approved for use in the middle of the night at the time a patient awakens and has difficulty returning to sleep. The PDUFA date established by the FDA is October 30, 2009, which is the action date for the Intermezzo(®) New Drug Application (NDA).  Transcept Pharma is now up 70% at 10:00 AM EST at $9.86 and the volume is right at 400,000 shares.  The 52-week range is $2.56 to $10.49 and the average volume is a mere 42,000 shares.  This may change, but we have this stock trading with no options chains available. -JON OGG