After it heavily promoted the anti-cancer drug it's developing with Roche, Jon Najarian of optionMOSTER.com noticed increased call volume in ImmunoGen Friday.
"Great news for people that are suffering and potential upside out of this stock. Very heavy turnover in the options," he said.
ImmunoGen is based in Waltham, Mass., where it develops anti-cancer drugs. Roche is a Basel, Switzerland based pharmaceutical company.
Together, the companies are developing trastuzumab-DM1 (T-DM1), which comprises of ImmunoGen's DM1 cancer-cell-agent linked to the HER2-targeting antibody trastuzumab or Herceptin. According to ImmunoGen's Web site, T-DM1 is in Phase III testing and seven other compounds are in clinical testing, as well.
Watch the video to see the full conversation about this "Unusual Activity"—it starts at 1:30.
NEW NASDAQ EXCHANGE LAUNCHES
NASDAQ launched a new trading platform Friday that seeks to increase liquidity and transparency for investors. The new equity trading platform is called NASDAQ OMX PSX.
The goal is to put less focus on speed and more attention to displayed liquidity back to the displayed markets, said Brian Hyndman, senior vice president of NASDAQ Transaction Services. The person displaying the largest display size at a particular price level will receive the largest portion of the incoming order on a prorated basis, he explained.
There were 50 participants using 'PSX' on the first day of trading, Hyndman said.
Watch the video to see the full interview—it starts at 3:15.
PERSHING TAKES J.C. PENNEY, FORTUNE BRANDS STAKE
Shares of J.C. Penney and Fortune Brands pushed higher Friday after activist investor William Ackman's Pershing Square Capital Management disclosed positions in both companies.