Benzinga's Microcap Movers for Tuesday January 10, 2012

Below are highlights from Benzinga's daily coverage of microcap securities making big moves: Talon Therapeutics Shares of Talon Therapeutics (TLON), the San Mateo, CA biopharmaceutical company, rose 54% Tuesday on 13 times the average daily volume. On Monday, Talon announced it had entered into an Investment Agreement with Warburg Pincus and Deerfield Management, its largest shareholders, for the sale of $11 million in preferred stock. Talon intends to use the net proceeds from the financing to advance its clinical development and regulatory activities for Marqibo, and for general corporate purposes. The Investment Agreement provides an option for the investors to purchase up to an additional $60 million in preferred stock within one year following an accelerated approval of Marqibo. Talon Therapeutics shares traded Tuesday in a range of $0.46 to $1.65 and closed at $0.78. Minco Gold Corporation Shares of Minco Gold MGH, the Vancouver, BC gold exploration company, rose almost 20% Tuesday on twice the average daily volume. There was no news to account for the move. Minco Gold shares traded Tuesday in a range of $0.75 to $0.88, closing at $0.87. Omeros Corporation Shares of Omeros Corporation OMER, the Seattle, WA clinical-stage biopharmaceutical company, rose 22% Monday on 9 times the average daily volume. On Tuesday, Omeros reported that it had identified compounds that interact selectively with each of GPR25, GPR32, GPR80, GPR135 and MAS1, bringing the total number of orphan G protein-coupled receptors unlocked by Omeros to 23, representing 30 percent of the Class A orphan GPCRs. To date, the number of orphans unlocked by Omeros for drug development equals half of the total number of GPCRs currently targeted by more than 30 percent of all marketed drugs. There are approximately 120 orphan GPCRs and Omeros expects to unlock a large percentage of them, focusing first on Class A orphan GPCRs. Omeros shares traded Tuesday in a range of $4.54 to $6.00, closing at $5.49.