PharmaCyte Biotech Inc. shares more than doubled to $8.82, after the company said Monday it was listing on Nasdaq after trading over-the-counter.
Volume for the stock was 94.4 million shares at 10:50 a.m. ET, compared to its 65-day average volume of 427,000. The stock hit its 52-week low of $2.25 last Thursday.
PharmaCyte said it is working to comply with the U.S. Food and Drug Administration’s clinical hold requests to achieve an open investigational new drug application as soon as possible.
In November, the FDA said that to lift the clinical hold, the company needs to conduct several additional preclinical studies. The FDA also requested additional information involving data, manufacturing information and product release specifications.