TheraBiogen, Inc. (OTC:TRAB) skyrocketed after issuing a press release suggesting a “pharma giant” was interested in TRAB.
Before the press release there wasn’t a single trade, but as soon as it came out a trading frenzy started. By the end of the session almost 3.5 million shares changed hands. TRAB closed up 150% at $0.55.[BANNER]
The word TRAB used in the title of the press release was “courted.” Apparently, the unnamed pharmaceutical giant had shown interest in providing access to TRAB’s product line.
TRAB holds the rights for the development, manufacture, marketing and selling of four homeopathic nasal sprays.
The company launched two of them back in September 2010. So far TRAB hasn’t been able to turn a profit on its operations, and the result from increased sales has been increased losses. Among the factors for these results are discounts and advertising.
While the press release failed to provide any details, traders were apparently excited about the development. Another announcement with some details may have a more resounding impact, but so far TRAB hasn’t revealed anything more.
