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Stock Alert: Liminal BioSciences Jumps 45%

Shares of Liminal BioSciences Inc. (LMNL) are surging more than 45 percent or $5.76 in Monday's morning trade at $18.45.

U.S. stocks are rising on Monday in reaction to upbeat news on the coronavirus front. The U.S. Food and Drug Administration or FDA announced Sunday it has issued an emergency use authorization for investigational convalescent plasma for the treatment of COVID-19 in hospitalized patients.

Liminal BioSciences is also involved in the collection of convalescent plasma from donors who have recovered from COVID-19. Liminal's lead product candidate is Ryplazim for the treatment of congenital plasminogen deficiency. The biologics license application for Ryplazim is expected to be resubmitted to the FDA in the current third quarter of 2020.

Liminal BioSciences has traded in a range of $5.25 to $31.45 in the past 52 weeks.

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