Labopharm Volume Hits Exponential in 15 minutes (DDSS)

Posted in General 
October 7th, 2009

Labopharm Inc. (NASDAQ: DDSS) is surging on word that its trazodone API supplier has resolved the outstanding manufacturing issues with the FDA.   Angelini, the manufacturer of the active pharmaceutical ingredient for the company’s novel trazodone formulation, received an FDA letter noting that it has appropriately addressed all deficiencies following its inspection of the manufacturing facility in June and July.  Average volume here is only abouy 600,000 shares per day and we have already seen 1.3 million shares trade hands as of 9:46 AM EST.  The stock is also up 22% at $1.66 and the 52-week trading range is $0.32 to $2.95.  Even after the boost today, the market cap is a mere $95 million.  JON OGG

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