Volume Spike Investor

Cardiome Pharma Corp. (NASDAQ: CRME) is seeing a surge in pre-market trading and a major price surge as well.  At 9:25 AM EST we have seen 935,000 shares trade hands and the stock is up 31% at $10.95.  This only trades about 650,000 on an average day. Its 52-week trading range is $5.78 to $12.62.  Its market cap based on Friday’s close was $531 million.

The culprit here was “positive Phase IIb 90-day results for its oral Vernakalant” for atrial fibrillation.

Jon C. Ogg
July 14, 2008