Biopharmaceutical company Allos Therapeutics Inc. (Nasdaq:ALTH) said before the opening today it had started its phase two study of its drug pralatrexate in patients with advanced or metastatic cancer of the urinary bladder. The news pushed shares up 10% to a 52-week high for the Westminster, Colo.-based company.

In today’s trading, shares are at $8.91 at 12:09 p.m. ET, up $0.76 from Friday’s close. Trading volume is more than 100,000 shares above average.

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