Benzinga's Microcap Movers for Tuesday January 17, 2012
Below are highlights from Benzinga's daily coverage of microcap securities making big moves:
Shares of Ku6 Media (NASDAQ: KUTV), the Beijing online video company, rose 139% Thursday on 157 times the average daily volume.
Ku6 Media announced Tuesday that it has entered into a definitive agreement with YouTube, a renowned international video-sharing website, which would allow Ku6's international users to view original videos from China through a new channel operated by YouTube. We believe that this partnership will allow Ku6 to expand its content offering into the international market. Ku6 plans to recruit a team to operate this channel to help grow its user base and revenues in the international market.
Ku6 Media closed at $3.30 Tuesday.
Shares of DARA Biosciences (NASDAQ: DARA), the Raleigh, NC development-stage pharmaceutical company, rose 19% Thursday on 12 times the average daily volume.
DARA announced Tuesday that it has acquired exclusive U.S. rights to sell Soltamox, a liquid formulation of tamoxifen for the treatment of breast cancer, through the acquisition of South Carolina-based specialty pharmaceutical company, Oncogenerix.
Christopher Clement, CEO of Oncogenerix and former CEO of Savient Pharmaceuticals, will join DARA as a director and as Chief Operating Officer.
DARA closed at $1.55 Tuesday.
Shares of Celldex Therapeutics (NASDAQ: CLDX), the Needham, MA biopharmaceutical company, rose 17% Tuesday on 8.5 times the average daily volume.
Celldex announced Tuesday that dosing has initiated in a Phase 1 study of its hematopoietic growth factor, CDX-301, in healthy subjects. The study is being conducted in collaboration with Rockefeller University. CDX-301 is soluble, recombinant human FMS-like tyrosine kinase 3 ligand and previous experience has shown that it increases the numbers and activity of blood stem cells and immune cells.
Celldex Therapeutics closed at $3.70 Tuesday.
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