BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) trading with huge volume

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Dallas, Texas 07/02/2013 (Financialstrend) – Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) gained by 6.64 percent to close at $59.44 on Monday. The shares had recorded an intraday high of $61.21 per share and intraday low of $56.31 per share during the day. With last trading session, shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) had 52 week high of $71.56 and 52 week low price of $36.28 per share.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) produces and commercializes pharmaceuticals for critical diseases and various medical conditions. Multiple investigational product candidates and four approved products are included in the company’s product portfolio.  Firdapse, Kuvan, Aldurazyme and Naglazyme are the approved products of the company. The company conducted clinical trials on several product candidates for the treatment of diseases that includes Vimizim for the treatment of Morquio Syndrome or Mucopolysaccharidosis Type IV, BMN-701, an enzyme replacement therapy for a glycogen storage disorder and PEG-PAL for the treatment of phenylketonuri, an enzyme substitution therapy. Zacharon Pharmaceuticals was acquired by the company on January 2013.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) submitted the Vimizim Marketing Application to the Agência Nacional de Vigilancia Sanitaria related to the orphan drug status in the U.S. which   is anticipated in mid 2014. There are the largest market opportunities for Vimizim which had brought therapeutic option to patients with Morquio A Syndrome. The company estimates 20 percent of patients are in North America and 50 percent of patients are in EUMEA.  BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) had been trading with huge volumes at 2.86 million shares on Monday, while the average level of trading in the company is only 1.69 million shares per day. With 138.87 million shares outstanding in the market, BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) presently has a market cap of $8.25 billion and an institutional ownership at 104 percent of total capital.

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