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Decode Shares Hit 52-Week High on Diabetes Gene Discovery

NEW YORK, Jan. 17 (GenomeWeb News) - Shares of Decode Genetics hit a 52-week high in trading today after the company's weekend announcement that it had discovered a variation of a gene that heightens the risk of type 2 diabetes.

 

Decode's stock price rose $1.39, or almost 15 percent, to a high of $10.77 in morning trading before retreating back below $10. The shares were trading up 5.97 percent, or $.56, at $9.94 in late-afternoon trading.

 

On Sunday the Reykjavik-based company said it had discovered a variant in a gene on chromosome 10 that raises the risk of adult onset diabetes.

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