Signal Genetics inks deal with major pharma firm; shares up 88%

• Thinly traded nano cap Signal Genetics (SGNL +88.2%) zooms up on a whopping 20x surge in volume in response to its announcement that it signed a Master Service Agreement (MSA) with an unnamed major pharma firm. Under the MSA, Signal's proprietary MyPRS genetic test will be performed across multiple clinical trials in connection with the development of treatments for multiple myeloma (MM). The aim of tests is to enable physicians to better manage MM patients based on their specific genetic profile.
• The MyPRS test (Myeloma Prognosis Risk Signature) is a microarray-based gene expression profiling assay. It helps distinguish patients along the spectrum of the condition which helps guide the selection of treatment.