Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR) is trading sharply higher this morning as traders continue to chase biotechs with low prices and low market caps on news. The company announced that the FDA accepted the filing of its Supplemental New Drug Application for review of H.P. Acthar Gel for treatment of infantile spasms; FDA has set the PDUFA review date of June 11, 2010 for this. Shares are up 27% at $5.50 at 8:35 AM EST on 104,000 shares in the pre-market hours. Average volume is about 600,000 shares per day, and the 52-week trading range is $3.10 to $9.63.