DepoMed Up Over 100% in 2010 On InterMune Sympathy? (DEPO, ITMN)

Over a week ago, InterMune (NASDAQ: ITMN) received a positive opinion from the EMA for Pirfenidone, a positive opinion for approval of Esbriet in the European Union. On that news, InterMune gained over 130% within a day, not to mention receiving an upgrade by Robert Baird a few days later.

Interestingly, DepoMed (NASDAQ: DEPO) has also gained over 100% in 2010, although it has 1/6 the market capitalization of InterMune. DepoMed is seeking FDA approval for entering a similar market to InterMune. A SeekingAlpha piece today highlighted this fact, as DepoMed continues ticking to new highs.

At last check shares of DepoMed were trading at $6.39: near session highs and up 6.5% from yesterday's close.