Over a week ago, InterMune ITMN received a positive opinion from the EMA for Pirfenidone, a positive opinion for approval of Esbriet in the European Union. On that news, InterMune gained over 130% within a day, not to mention receiving an upgrade by Robert Baird a few days later.
Interestingly, DepoMed DEPO has also gained over 100% in 2010, although it has 1/6 the market capitalization of InterMune. DepoMed is seeking FDA approval for entering a similar market to InterMune. A SeekingAlpha piece today highlighted this fact, as DepoMed continues ticking to new highs.
At last check shares of DepoMed were trading at $6.39: near session highs and up 6.5% from yesterday's close.
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