Shares of Zosana Pharma Corp. rocketed 69% toward a 9-month high in very active morning trade Monday, after the company presented positive trial results of its migraine treatment. Volume spiked to 12.4 million shares, compared with the full-day average of about 268,000 shares. Zosana said a trial of its lead candidate, M207, which is a patch used to treatment migraine pain, achieved both co-primary endpoints of pain freedom and most-bothersome-symptom freedom in a phase 3 trial. The company said there were no serious adverse events in the trial. The stock has has lost 4% over the past 12 months, while iShares Nasdaq Biotechnology ETF has climbed 14% and the S&P 500 has run up 25%.
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