This Biotech Stock Soared 300% Overnight. Why It Can Go Higher.

This Biotech Stock Soared 300% Overnight. Why It Can Go Higher.·Barrons.com

Positive results from clinical trials often give biotechnology companies a boost, but this one was big. Shares of Sana Biotechnology —a firm with a market capitalization of less than $400 million as of Tuesday’s close—surged 333% when the market opened to $7.17. It announced clinical results for an in-human study on a Type 1 diabetes treatment that it says are positive.

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