Pharmasset Gives Up Almost All Of Earlier Gains

Pharmasset, Inc. VRUS shares were soaring at the beginning of the trading session, up nearly 25% after the company announced it would be expanding its hepatitis C drug study to include more patients. Traders, analysts and the rest of Wall Street took this as a sign to mean that the drug, PSI-7977 was working well and new patients were needed for the study. Since this morning, shares of Pharmasset have given up almost all of their gains, and are up less than 4% as of the time of this writing. Despite volume being high, with nearly 2.4 million shares exchanging hands, shares are only up $4.13 to $112.43. Shares touched a high of $135.92 earlier in the session. Pharmasset, Inc., a clinical-stage pharmaceutical company, focuses on discovering, developing, and commercializing novel drugs to treat viral infections.