Morning Market Movers

Oncolytics Biotech ONCY surged 75.12% to $3.80 at 9:55 am. Oncolytics Biotech announced initial positive top line REOLYSIN data from the first endpoint in its double-blinded randomized Phase III clinical study in head and neck cancers. Telik TELK climbed 42.61% to $2.51. Telik announced the publication of a clinical trial abstract in the proceedings of the 54th Annual Meeting of the American Society of Hematology in Atlanta, Georgia. Best Buy Co BBY surged 17.28% to $14.28. Best Buy's founder Richard Schulze is likely to make a fully-financed offer to acquire the company, according to the Minneapolis Star Tribune. Paragon Shipping PRGN shares advanced 17.16% to $2.39. Paragon Shipping signed agreements with four of its lenders.