Chasing pSivida (PSDV)

Posted in pre-market 
December 23rd, 2009

pSivida Corp.(NASDAQ: PSDV) is the largest NASDAQ winner this morning.  After a close of $3.52 on Tuesday, we have shares up 59% at $5.60 on 177,771 as of 8:23 AM EST this morning.  This is another example of traders chasing emerging drug and biotech companies with low prices.  The company announced positive study results from the two Phase III FAME trials of Iluvien® in patients with Diabetic Macular Edema.  Average daily volume here is only about 100,000 shares and the 52-week trading range is $0.60 to $6.25.  pSivida has been public since 2005 and after it came public it traded for a period above $20 and above $30 as a stock.


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