Pre-Market Price/Volume Spike: Myriad Genetics (MYGN)

Posted in pre-market  by: admin
June 30th, 2008

Myriad Genetics (NASDAQ: MYGN) is seeing strong selling pressure in the pre-market hours this Monday. The culprit is that plans to discontinue the development of Alzheimer treatment Flurizan after its late-stage trial failed to meet endpoints.

The stock has recovered off of its lows as shares had briefly been down more than 10%.  Shares are currently trading at $44.75, down 6.6% on 327,000 shares at 8:13 AM EST.  Average daily volume is 886,000 shares, and we may already get past that before the 9:30 AM EST opening bell rings.

Its market cap was over $2.14 Billion before today’s price action and its 52-week trading range is $34.35 to $59.18.

Jon Ogg
June 30, 2008

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