Transgenomic (TBIO), LifeLabs Ink Mutation Enrichment Technology Deal

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Shares of Transgenomic, Inc. (Nasdaq:TBIO) soared more than 270% to near their 52-week high levels in early trade Thursday after the biotechnology company said that it has reached a three-year, renewable and non-exclusive licensing deal with LifeLabs – Canada’s largest laboratory service provider – for its ICE COLD-PCR technology.

LifeLabs plans to use Transgenomic’s ICE COLD-PCR as its mutation enrichment platform for cancer testing.

TBIO stock is trading at $0.984, up $0.70 (or +247.63%) and 1.37M of its shares changed hands so far.

Transgenomic, which engages in advancing personalized medicine for the detection and treatment of cancer, and inherited diseases through its molecular technologies and clinical and research services, has 24.79M shares outstanding and TBIO stock 52-week range is between $0.15 and $1.15 per share.

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