Trophy Hunters Chase MDRNA (MRNA)

Posted in pre-market 
January 13th, 2010

MDRNA, Inc. (NASDAQ: MRNA) is flying this morning.  The stock has traded 1.6 million shares as of 8:20 AM EST and the stock is up 78% at $1.69 this morning.  Traders are chasing biotechs on news still as the average volume for a whole day is only 461,000 shares and the 52-week trading range is $0.21 to $3.55.  The market cap before this morning’s pop was under $39 million, so it does not take much trading volume to move the needle here.   The news is that the company has reported potent anti-tumor activity against multiple targets in liver and bladder cancer.  Keep in mind that MDRNA closed on only a $1 million bridge loan back at the end of December.

JON C. OGG

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