NEW YORK (GenomeWeb News) – Shares of molecular diagnostics firm Vermillion rose 23 percent on Monday to close at $8.95, leading all gainers on the Nasdaq for the day.
The reason for the spike is unclear, as the firm didn't disclose any news or file any documents with the US Securities and Exchange Commission. Trading in the firm's shares also was heavy, with 603,100 shares trading hands, compared to its average daily volume of around 128,000.
Vermillion emerged from Chapter 11 bankruptcy protection early in 2010. The firm has since been relisted on Nasdaq and recently inked a new deal with Quest Diagnostics, the company's sales and marketing partner for the OVA1 test.
Vermillion's share price has nearly doubled this month, since its close of $4.79 on Nov. 30.