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Shares of Vion Pharmaceuticals (OTC:VION) gained more than 6% on Tuesday as volume was almost five times the 3 month daily average. There were no news or any significant events that could be detected.

Vion develops and commercializes products for the treatment of cancer, including Cloretazine, an alkylating agent that is undergoing a Phase 3 trial for the treatment of relapsed acute myelogenous leukemia [AML], and a Phase 2 trial for the treatment of de novo poor-risk AML in previously untreated elderly patients; and Triapine, a small molecule for the prevention of the replication of tumor cells.
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The company has a tiny market cap of only $147 million. It has almost $80 million in cash and more than $50 million in debt according to the latest Yahoo! financial data.

Shares of Vion closed at $2.02 on Tuesday, 12% below the 52-week high of $2.30.

Vion has made BHI's BioWatch Alert List, and will be tracked for the next two weeks.

Source: Tiny Biotech Vion Jumps on Strong Volume, No News