Volume Drying Up In KaloBios Pharma After Last Weeks Surge

KaloBios Pharma Inc. (NASDAQ: KBIO) shares are trading higher by $2 at $36.83 in Monday's session. The issue is on track to have its lowest day of volume since November 12, when 71.5K shares changed hands and the traded south of $1 at $.90.It should be noted Its highest volume day, which November 23 (17M shares), also marked the high of the recent move at $45.82. It has since challenged that high on twp occasions but came up shy on much lighter volume.In today's session, it filled a void in price from November 25, when it traded down to $30 and began to rebound. So far, it has not been able to reach the $40 handle, peaking at $38.27 and falling back under $37.Joel Elconin is the co-host of Benzinga;s #PreMarket Prep, a daily trading idea radio show.Do you like this article? Do you have suggestions for improvement? Please email feedback@benzinga.com.