Savient (SVNT) is halted. Reuters is reporting that an FDA panel has recommended for approval Krystexxa for gout. Shares were down a penny to $9.26 ahead of the decision. Implied volatility remains elevated at 204, but down from 270 seen late last week. SVNT rallied 56.4% Friday in anticipation of a positive decision and open interest in Savient calls has been building over recent weeks as well (Chart.)
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.