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Danish investors and analysts have spent the morning trying to figure out why a tiny biotechnology company suddenly soared almost 1,400 per cent during US trading hours.
Orphazyme A/S, which develops therapies to treat genetic disorders, says it has no idea why its American depositary shares surged overnight. When trading started in Copenhagen, the Danish shares rose as much as 76 per cent. The company has now warned investors against being sucked into the frenzy.
“Investors who purchase the company’s ADS or shares may lose a significant portion of their investments if the price of such securities subsequently declines,” Orphazyme said on
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