The stock opened at $6.37, compared to its close of $6.05 on Tuesday, and then soared more than 50% to a high of $9.87 for the day. More than 6 million shares changed hands by 1:40 p.m., which easily surpassed the average volume of 352,545.
Conatus Pharmaceuticals (CNAT) stock was boosted on Tuesday after Allergan (AGN) agreed to buy Tobira Therapeutics (TBRA) at a 500% premium.
Conatus Pharmaceuticals' (CNAT) patented liver drug emricasan has been identified as a promising treatment for the Zika virus.
Conatus Pharmaceuticals (CNAT) stock is increasing in mid-morning trading on Wednesday after the company said a Phase 2 trial of its liver drug showed positive results.