New York, NY -- (SBWIRE) -- 01/07/2013 -- Verastem Inc. (NASDAQ: VSTM), a biopharmaceutical company engaged in the discovery and development of drugs for treatment of cancer, is up sharply in mid-day trading today. At last check, VSTM was trading 6.89% higher at $11.01 on volume of 20,752, which is less than half of the daily average volume of 50,622. VSTM has gained more than 11% in the last three trading sessions.
VSTM has broken through $11 resistance level as a result of the rally today. This is a strong bullish signal. Technical indicators for the stock point to further gains.
VSTM last week said that it will present at East/West CEO and J.P. Morgan Healthcare conferences.
CytRx Corporation (NASDAQ: CYTR), a biopharmaceutical company engaged in the research and development of oncology drugs, is rallying in mid-day trading today. At last check, CYTR was trading 7.14% higher at $2.10 on volume of 468,139, which is significantly above the daily average volume of 149,239. CYTR, in fact, has been gaining momentum since last week. The stock has gained more than 11% in the last three trading sessions.
Last week, CYTR had announced that it promoted Daniel Levitt, the company’s Chief Medical Officer, to the position of Executive Vice President. Levitt will continue to serve as the company’s Chief Medical Officer.
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