Following a new monthly high made during yesterday's trading session, this micro cap biotech company ripped in early trade, crossing over its 100-day SMA. Celsion Corp. (NASDAQ:CLSN) has been on an absolute tear this week, up 22 cents (+36%) from last Friday's close. Over the last three sessions, the stock has been trading up on much higher than usual volume.
Celsion Corp is active in the biotechnology market. The company acts as a drug developer with product candidates like ThermoDox, a heat-activated liposomal encapsulation of doxorubicin. It is in Phase III clinical trial for the treatment of primary liver cancer and a Phase II clinical trial for the treatment of recurrent chest wall breast cancer. Its pipeline also includes GEN-1, a deoxyribonucleic acid (DNA) mediated immunotherapy for the localized treatment of ovarian and brain cancers.
This morning's move is a continuation of the success this stock has had over the last month and a half, and after making higher highs and higher lows recently, it may be an indication of things to come.
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