XenoPort Continues Higher Amid Takeover Rumors

Shares of XenoPort, Inc. (NASDAQ: XNPT) were trading higher by nearly 6 percent at $5.07 early Friday morning.

Reuters reported late Thursday afternoon that the bio-pharmaceutical company is in the early stages of exploring a potential sale of itself.

Citing "people familiar with the matter," Reuters added that the XenoPort is working with investment bankers and has already reached out to potential acquirers to discuss a sale.

Shares of XenoPort have lost more than 40 percent over the past year.