Somaxon Volatility Continues (SOMX)

Posted in pre-market 
December 2nd, 2009

Somaxon Pharmaceuticals, Inc. (NASDAQ: SOMX) has been volatile as hell in recent days ahead of an FDA decision due tomorrow for the company’s Silenor as an approved insomnia treatment.  The stock was up big on Monday, but gave back some gains yesterday after it initially gapped up higher and this follows last week’s moves.

Day. Volume                   Close
DEC1..5,729,200          $3.67
NOV30.. 14,710,300   $3.80
NOV27.. 1,713,900      $3.00
NOV25.. 2,963,600       $2.84

The average volume is now almost 700,000 shares based on higher volume in the last week.  That figure had been closer to 500,000 shares per day.  At 8:17 AM EST we have seen only 12,000 shares trade hands but the last print was up over 5% at $3.87.  As with all pending decision from the FDA, these can bite both ways.

Jon C. Ogg

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