Labopharm Continues Its Surge (DDSS)

Posted in pre-market 
October 8th, 2009

Labopharm Inc. (NASDAQ: DDSS) already had a huge day on Wednesday.  But so far Thursday is looking to be a repeat gain.  At 8:38 AM EST we have seen 645,000 shares trade hands, which is effectively a normal trading day’s worth of volume.  The stock is also up 16% at $2.18.  The 52-week trading range is $0.32 to $2.95 and the closing bell market cap yesterday was $107.9 million.  The headline this morning is that Labopharm has completed a distribution and supply agreement with Grunenthal for twice-daily tramadol-acetaminophen for a number of European countries, and this is on the heels of yesterday’s news that its trazodone API supplier has resolved outstanding manufacturing issues with the FDA.  -JON C. OGG

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