Shares of Canadian pharmaceutical company Aquinox Pharmaceuticals Inc.
The rally started after the company released positive mid-stage trial results on Friday for a bladder pain drug referred to by its clinical name, AQX-1125. Shares traded up as much as 280% Monday morning after closing up nearly 500% on Friday.
The stock pulled back in afternoon trade, but still ended up closing 81% higher to $18.88. To give perspective, the stock closed at $1.79 on Thursday and its previous record high was $14, recorded on March 12, 2014.
Aquinox has been moving on extremely high volume. Nearly 18 million shares changed hands on Monday —...