01:50 PM EST, 01/08/2025 (MT Newswires) -- Sana Biotechnology ( SANA ) shares more than doubled intraday Wednesday, a day after the company reported positive initial results from a study involving its hypoimmune technology in type 1 diabetes treatment.

On Wednesday, TD Cowen upgraded its rating on the stock to buy from hold.

More than 133.1 million shares of Sana traded compared with a daily average of over 2.01 million.

Meanwhile, Silo Pharma ( SILO ) said it received a notice of allowance from the US Patent and Trademark Office for a patent application relating to its SPC-15 intranasal treatment targeting post-traumatic stress disorder.

Silo's shares soared 60% as intraday trading volume surged to almost 158.5 million from a daily average of about 312,000.

This comes as Vir Biotechnology ( VIR ) said Wednesday that initial phase 1 data from two dual-masked T-cell engagers, VIR-5818 and VIR-5500, showed "encouraging" safety and efficacy profiles.

Shares of Vir advanced 62% as intraday trading volume catapulted to more than 31.8 million from a daily average of about 1.29 million.

Price: 5.05, Change: +3.40, Percent Change: +206.06