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CombiMatrix Shares Spike 20 Percent

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Shares of CombiMatrix today jumped as much as 20 percent today on Nasdaq.

By late afternoon, the company's stock had gone as high as $3.88 per share as more than 37,000 shares were traded, more than four times CombiMatrix's average daily volume of 9,029 shares during the past three months.

At the close of the market on Thursday, CombiMatrix shares were up almost 16 percent to $3.73. Nearly 41,000 shares exchanged hands.

The reason for the share and volume increase was unclear.

Two weeks ago, CombiMatrix reported $912,000 in first-quarter revenues, an 11 percent increase year over year.