Volume Spike Investor » biotech leaders http://vsinvestor.com Investing in stocks based on short term spikes in volume Sat, 05 Nov 2011 14:20:15 +0000 en hourly 1 http://wordpress.org/?v=3.2 Exponential Volume Alert: Vanda Pharma (VNDA) http://vsinvestor.com/2008/07/exponential-volume-alert-vanda-pharma-vnda.html http://vsinvestor.com/2008/07/exponential-volume-alert-vanda-pharma-vnda.html#comments Mon, 28 Jul 2008 13:40:05 +0000 247admin http://www.vsinvestor.com/?p=213 Vanda Pharmaceuticals, Inc. (NASDAQ: VNDA) is one of the leading volume stocks this morning on NASDAQ. Unfortunately for holders, it is a major downside volume alert to yet another 52-week low.  An FDA non-approvable letter is the culprit.

The biotech is down now more than 60% at $1.24 and its prior 52-week trading range was $2.70 to $19.62. As of 9:44 AM EST we have already seen more than 10 million shares trade hands. As this now has a mere $33 million market cap, it looks like we’ll see more than its entire float trade hands today. This one isn’t a true biotech zombie yet, but you’d never know it if you were just looking at its stock chart.

This is now under its cash levels on the books, but it will burn through much cash to fulfill its FDA obligatiosn to proceed.

Jon Ogg
July 28, 2008

]]> http://vsinvestor.com/2008/07/exponential-volume-alert-vanda-pharma-vnda.html/feed 0