Microcap Movers for Tuesday December 20, 2011

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

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Shares of BioTime

, the Alameda, CA biotech company, rose 27% Tuesday on 7 times the average daily volume. The company announced in a press release on December 16 plans by its subsidiary OncoCyte Corporation, for the development of PanC-Dx, a novel diagnostic device to detect the presence of various human cancers, including cancers of the breast, lung, bladder, uterus, stomach, and colon, during routine check-ups. BioTime's CFO told Benzinga that the price rise Tuesday was most likely in response to that press release and to short covering in the stock. Short interest in BioTimes float is 17.7%. BioTime shares traded Tuesday in a range of $4.41 to $5.50, closing at $5.47.

Shares of Progenics Pharmaceuticals

, the Tarrytown, NY biotech company, rose 31% Tuesday on 12 times the average daily volume. Salix Pharmaceuticals and Progenics Pharmaceuticals announced Tuesday the successful outcome of the Phase 3 trial to evaluate the efficacy and safety of oral methylnaltrexone for the treatment of opioid-induced constipation in subjects with chronic, non-cancer pain. Progenics shares traded Tuesday in a range of $7.31 to $8.69, closing at $8.49.

Shares of Peoples Bancorporation (

), the Easley, SC parent of Peoples National Bank, Bank of Anderson and Seneca National Bank, rose 148% Tuesday on 44 times the average daily volume. SCBT Financial Corporation and Peoples Bancorporation jointly announced Tuesday the signing of a definitive merger agreement under which SCBT will acquire Peoples Bancorporation. Upon completion of the transaction, the combined company will have approximately $4.5 billion in assets, $3.8 billion in total deposits, and $3.2 billion in total loans. The merger agreement has been approved by the board of directors of each company. Peoples Bancorporation shares traded Tuesday in a range of $2.57 to $3.75, closing at $3.73. To get information like this on a streaming basis during the trading day, try a 100% free trial to

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