Benzinga's Small Cap Movers for Tuesday March 12, 2013
Below are highlights from Benzinga's daily coverage of small cap securities making big moves:
Shares of Opexa Therapeutics (NASDAQ: OPXA), the Woodlands, TX biopharmaceutical company rose 14.5% Tuesday on 3.5 times average volume.
Opexa Therapeutics was the subject of a positive Seeking Alpha on Tuesday.
Opexa Therapeutics closed at $2.20 on Tuesday.
Majesco Entertainment (NASDAQ: COOL), the Edison, NJ video game company, rose 24% Tuesday in intra-day trading on 6 times average volume.
Majesco Entertainment reported financial results Tuesday, for the first quarter of fiscal 2013 ended January 31, 2013. For the first quarter ended January 31, 2013, Majesco's net revenues were $23.5 million, down 65 percent versus $66.2 million in the same period a year ago.
The Company's basic and diluted net loss per share for the quarter ended January 31, 2013 was $(0.05), compared to basic and diluted net income per share of $0.19 in the same period last year. The non-GAAP diluted net loss per share for the quarter ended January 31, 2013 was $(0.02) compared to net income per share of $0.18 in the same period last year.
Majesco Entertainment closed at $0.72 on Tuesday and traded down 23% after hours, following the earnings report.
OCZ Technology Group
Shares of OCZ Technology Group (NASDAQ: OCZ), the San Jose, CA provider of high-performance solid-state drives for computing devices and systems, rose 20% Tuesday on 3.5 times average volume.
OCZ Technology Group announced Monday that it has entered into a $30 million loan and security agreement with Hercules Technology Growth Capital. This loan agreement consists of a $15 million term loan and a $15 million revolving loan facility.
Pursuant to the loan agreement, the Company issued Hercules a warrant to purchase 688,073 shares of OCZ Technology common stock at an exercise price of $2.18 per share. In addition to the term loan, the Company has access to a $10 million revolving loan facility which shall be repaid in full in April 2016. An additional $5 million of revolving loan facility will be available to the Company upon achieving certain financing covenants. OCZ Technology Group closed at $2.10 on Tuesday.
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