Why BioDelivery Sciences International Stock Was Up 28.5% Monday
BioDelivery Sciences International (NASDAQ: BDSI) saw its shares rise 28.5% on Monday. The company, which closed at $2.60 on Friday, opened at $2.65 on Monday, then kept climbing to a daily high of $3.34 by midafternoon. The stock's 52-week range is $2.50 to $4.99. So far this year, it is down a little more than 21%.
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The biotech company, which is focusing on pain-management and neurology therapies, saw its biggest one-day rise in years after it received a favorable ruling on two patents for its pain therapy Belbuca, according to a report by Bloomberg Law. A decision by a trial judge in Delaware will prevent Alvogen from selling a generic version of Belbuca. The patents were set to expire in 2027 and 2032.
Source Fool.com
