Why IsoRay (ISR) Hit a Five-Year High Today (Update)

Update (4:05 p.m.): Updated with Wednesday market close information.

NEW YORK (TheStreet) -- IsoRay  (ISR) soared more than 150% to a five-year high of $3.04  on Wednesday after the company announced a major milestone in tumor treatment.

IsoRay announced the world's first treatment of a tumor in a pediatric patient through the use of multiple Cesium-131 sutured seed meshes for internal radiation therapy. Dr. Anthony Crimaldi at Levine Cancer Institute in Charlotte successfully performed the implant using IsoRay Medical's Cesium-131 brachytherapy mesh.

The patient was a 12-year-old male with a type of childhood kidney tumor. 

The stock closed at $2.54, up 133.03% or $1.45 from its previous close of $1.09, at the close of the trading day. It amassed a volume of 81,483,465, which dwarfs its average of 1,521,610. 

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