Why Oramed Pharmaceuticals Stock Is On Fire Today

Shares of the clinical-stage biotech Oramed Pharmaceuticals (NASDAQ: ORMP) are having a banner day today. Specifically, the company's stock price rose by as much as 40% on extremely high volume early on in Tuesday's trading session. The biotech's shares have cooled off as the day has progressed. But Oramed's stock was still up by a respectiable 16% as of 1:23 p.m ET Tuesday afternoon.

What's causing investors to rush into this small-cap biotech stock? Oramed's shares have been racing higher ever since management released a letter to shareholders last Friday. 

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Source Fool.com