Aquinox Pharmaceuticals Higher For Fifth Day In A Row

Aquinox Pharmaceuticals Inc.

shares are trading higher $0.34 at $10.34 in Thursday's session. Interestingly, the issue had traded higher in each of its previous sessions, rallying from its January 13 close ($8.02) to its current level. All of that price action preceded Baker Brothers 13D disclosure of 41.5 stake in the struggling biotech company. Investors have soured on the issue since early August of last year, when it staged an unbelievable two-day rally from its August 6 close ($1.79) to an intraday high of $55.75 only two days later. It should be noted it retreated to end that session at $18.88. The catalyst for that rally was positive data on Phase 2 clinical trial for AQX-1125 for Bladder Pain.Interstitial Cystitis. Upon no further developments on that drug or any others for that matter, the issue sank to $7.64 on January 14, before embanking on its current rally. Earlier in the session, it reached $11.76 before retreating to its current level. That marks the highest level for the issue since it peaked at $11.97 on January 5.