Akari Therapeutics PLC (ADR) AKTX shares are trading higher by $3.40 (48 percent) at $10.40 in Friday's session.The catalyst for the rally is a report that the company has received FDA fast track designation for the Coversin.
On Thursday, before the announcement, the stock added $0.33 from $6.65 to $6.98 on one of its biggest volume days in years (595,000 shares). That is nothing compared to the 10.4 million shares it has traded as 12:40 p.m. ET today.
After a higher open, it retreated to ($8.23), only $0.33 above the top of Thursday's range ($7.90) and continued its move higher. The ensuing rally took the issue to $10.63 and it's not far off that level. That marks the highest level for the issue since July 14, 2016, when it peaked at $11.50.
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