Adolor's shot in the arm for HBK


If you buy the line that it has been a tough time to pick winners in the pharmaceutical sector, then chances are you probably never heard of Exton, Penn.-based Adolor. And if you haven't, you may want to start kicking yourself now. That's because Adolor is a microcap drug developer that exploded into a small cap overnight as the stock rose more than 50% in the first week of February, providing a big win for a number of hedge funds, most notably HBK Investments.

Adolor's stock surge was strong medicine for HBK. Regulatory filings with the U.S. Securities and