On August 13, Galena Biopharma (GALE) was at $1.61. It closed today at $1.82 with a volume of 2.4 million.
There seems to be an unusual pick of volume from Wednesday (4m) and today (3m).
The last major volume increase was on the 16th of August (almost 3m).
Recently, Galena Biopharma announced improvement of patients during their Phase II clinical trial and received a go-ahead from FDA to continue to Phase III trial.
We'll see what the market's judgment today.
Disclosure: I am short GALE.
Additional disclosure: Chart is from StockCharts.com.