Volume Spike Investor

Cadence Pharmaceuticals Inc. (NASDAQ: CADX) is getting clipped this morning.  The FDA has extended the review from today for its painkiller Acetavance by three months out to February 2010.  The reason offered was that the FDA needed more time to review data, but the company said specifically that the FDA is not asking for additional data.  Cadence said it plans to work with the FDA and it plans to launch Acetavance in Q2-2010 if it is approved.  At 8:16 AM EST we have seen only 12,000 shares trade hands, but this is down 13% at $8.30 versus a 52-week range of $4.39 to $12.68.  Be advised, options trading is going to be very active this week.  We noted huge activity earlier this week in options trading, and those will either be closed out or will be rolled out to February or March 2010 contracts.

JON OGG