Cascadian Therapeutics (CASC)

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The biopharmaceutical company, Oncothyreon Inc (USA) (NASDAQ:ONTY) stock soared 31.19%, and experienced approximately 18 times increment in its trading volume as of 12:02 PM EDT. Currently the stock is trading at $2.75, with a volume of 18.28 million. Traditionally, the stock changes hands with a trading volume of 1.20 million.

The increase in the stock price and volume is largely driven by investors hunger to get a stake in the company following Oncothyreon’s submission of an abstract for presentation in the upcoming meeting of American Society of Clinical Oncology (ASCO) in Chicago, starting from May 29 to June 2, 2015. Moreover, the investors are excessively eager to buy the stock on the news of positive study results; though the study is at its initial stage.