In the midst of a global market slide, Isis Pharmaceuticals (ISIS) gained a whopping 29.24 percent today to close out at $28.42 a share. This Carlsbad, California biotech company is way up for the year, posting an absolutely staggering 268 percent increase since the beginning of the year. Isis also experienced massive volume, trading 9.78 million shares against an average of 1.54 million. We thought this merited a closer look to see what made ISIS stick out on an otherwise gloomy day for the market.
Isis Pharmaceuticals, Inc., incorporated in January 10, 1989, is engages in antisense technology, which is a new approach to combating genetic disorders. Specifically, the Company's principal activity is to develop and market RNA (RiboNucleicAcid)-based novel drugs to treat important diseases such as cardiovascular diseases, diabetes and asthma. While Isis has yet to have a major success on the market, Isis’ research looks promising, and has investors excited for their future. Isis is set to deliver a report to stockholders on June 25th.
Shares of the stock shot up today after the drug company said an experimental treatment for patients with high triglyceride levels in their blood showed potential. More detailed information on their research is forthcoming later this summer.
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