Karo Bio Jumps After Reaching Milestone Payment: Stockholm Mover
This article is for subscribers only.
Karo Bio AB, a Swedish biotechnology company focused on autoimmune diseases, rose the most in five months in Stockholm trading after reaching its first milestone payment in a research agreement with Pfizer Inc.
The shares advanced as much as 31 percent, the biggest intraday gain since April 2. Karo Bio rose 19 percent to 0.38 krona as of 12:42 p.m. local time, making it the biggest gainer in the OMX Stockholm All-Share Index. The volume traded was almost 12 times the three-month daily average.