Aquinox Pharmaceuticals Stocks Were Halted Six Times Today Because Of Insane Trading

Aquinox Pharmaceuticals Share Prices Surge

Aquinox Pharmaceuticals reported earnings on Friday and its shares skyrocketed by 400% on news that it has completed a positive trial for a drug that treats bladder pain syndrome.

On Monday, the stock spiked 365% and according to Business Insider, “It’s now up about 2000% from Thursday’s closing price of $1.79 per share.”

Pharma companies often report huge spikes in share prices when their biggest and most promising drugs pass through important human trials without a hitch. However, the stock market also reacts, causing trading to stop for short periods of time when shares hit “circuit breaker limits,” which are put in place to help reduce volatility.

Aquinox Pharmaceuticals now has a market valuation of $422 million.

SEE ALSO:
Top 10 Lesser Known Tax Deductions for Small Businesses

Written by Peter Mondrose

Peter Mondrose

Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at PeterMondrose@BusinessPundit.com or (929) 265-0240.