Volume Spike Investor

Vical Incorporated (NASDAQ: VICL) is trading up sharply on its report that its Allovectin-7 Phase III trial received a positive review from safety monitoring board.  The independent Safety Monitoring Board for the company’s Phase 3 AIMM trial in patients with metastatic melanoma has completed the trial’s third scheduled safety analysis and recommended that the trial continue per the protocol. The company also announced that the trial enrollment of the planned 375 subjects should be completed in the next few weeks.

As investors and traders are now chasing any biotech stock with any positive news, the stock is soaring.  At 8:22 AM EST we have seen 80,000 shares trade and shares are up over 23% at $3.40.  The 52-week trading range is $1.14 to $5.51 and the average volume is close to 600,000 shares.

JON C. OGG