This appears to be continued momentum from the J.P. Morgan conference catalyst earlier this week, which drove an 11-15% surge on January 14th. The stock has been highly volatile, swinging between +11.9% and -7.2% over the past few days as investors digest M&A speculation and clinical progress. Today's lighter volume (0.5x normal) suggests this is more of a technical bounce after yesterday's sharp pullback rather than fresh institutional buying.
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