Pressure BioSciences Up Big

The stock surges on word the company gets an NIH grant.
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Pressure BioSciences

(PBIO)

shares skyrocketed Thursday after the company said it received a grant from the National Institutes of Health.

The grant, valued at $149,470, will help fund early experiments using the company's patented cell technology. Shares were up $1.25, or 33.3% to $5, on more than 50 times average volume.

Studies will be conducted to demonstrate the feasibility of using the company's pressure-cycling technology to develop a new method of extracting substances from cells and tissues.