$SLNO + 103% on $60M financing news.
$SLNO is a clinical-stage biopharmaceutical company who is focussed on the production and development of new drugs for treatments of rare diseases.
They jump this morning on the release of the news for a $60 million financing commitment with 3 big players, Nantahala Capital Management, Abingworth and Vivo Capital.
After a close at $0, 89 yesterday afternoon, they open at $1, 11 this morning and regularly climb up to the $2, 40 are before starting to make some up and down moves.
After a few tries to reach new highs, the share price closed at $1, 85 for a solid 103$ gain during the day.
Here is the graph of het day:
This graph let place too many opportunities for the traders who are ready to take advantage of the momentum of a stock. The volume exchange was solid, 31 million shares and there were some catalyst.
$SLNO did very well by getting back to the level of last September if you check on the 120-day graph.