Microcap Movers for Friday December 9, 2011

Below are highlights from Benzinga's daily coverage of microcap ecurities. Benzinga provides comprehensive, objective, and conflict-free coverage of the microcap sector in real-time at BenzingaSmallCap.com.

Flow International

Shares of Flow International (NASDAQ: FLOW), the Kent, WA provider of technologically advanced, environmentally sound solutions to the manufacturing and industrial cleaning markets, rose 45%

Friday on 17 times the average daily volume.

A better than expected earnings report Thursday evening and an upgrade from Northland Securities accounted for today's strength.

Flow International shares traded in a range of $3.05 to $3.58 Friday, closing at $3.52.

SIGA Technologies

Shares of SIGA Technologies (NASDAQ: SIGA), the New York City-based bio-defense company, rose 32% Friday on 3.5 times the average daily volume.

Board member Fran Townsend responded to shareholder concerns regarding investigations from two Congressional committees looking into the awarding of a large government contract. SIGA was awarded a contract valued at $433 million to supply the U.S. Department of Health and Human Services with its smallpox drug.

Townsend said the contract was awarded under a competitive process and rival bidder Chimerix did not meet the requirements.

Shares of SIGA Technologies traded in a range of $1.78 to $2.54 Friday and closed at $2.43.

Alexza Pharmaceuticals

Shares of Alexza Pharmaceuticals (NASDAQ: ALXA), the Mountain View, CA developer of novel proprietary products for the acute treatment of central nervous system, or CNS conditions, rose 20% Friday on 8 times the average daily volume.

In a report on December 7, the FDA expressed concerns for Alexa's inhaled antipsychotic drug Adasuve. The report will be reviewed by a panel on December 12.

The FDA report stated: “It is likely that, even with adequate screening for pulmonary risk factors, some patients will require respiratory support post-dose, and some patients will be at risk for respiratory failure and death,” FDA staff said.

Alexza Pharmaceuticals shares rallied off of Thursday's lows, traded in a range of $0.53 to $0.66 and closed at $0.63.

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