Celladon (CLDN) Shares Spike 10%

Celladon Corporation (CLDN) is trading at an unusually high volume in mid-morning trading on Monday with 2 million shares changing hands. It is currently at more than 3x its 3-month average daily volume. CLDN gained over 13% in early trading after its pending merger partner Eiger BioPharmaceuticals confirmed receipt of Orphan Designation from the FDA.

In the past 52 weeks, shares of San Diego, California-based clinical-stage biotechnology firm have traded between a low of $1.00 and a high of $28.25 and are now at $1.61.

Shares are down 88.39% year-over-year and 92.58% year-to-date.

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