Benzinga's Microcap Movers for Thursday January 26, 2012
Below are highlights from Benzinga's daily coverage of microcap securities making big moves:
Shares of EntreMed (NASDAQ: ENMD), the Rockville, MD clinical-stage pharmaceutical company, rose 26% Thursday on 17 times the average daily volume.
Celgene's purchase of Avila Therapeutics, which is developing kinase inhibitor cancer therapies, was the primary factor in EntreMed's move. EntreMed is developing similar treatments and has a close relationship with Celgene. Earlier this week, EntreMed announced $10 million in funding.
EntreMed closed at $2.95 Thursday.
Shares of Hemispherx Biopharma (NYSE: HEB), the Philadelphia, PA specialty pharmaceutical company, rose 22% Thursday on 10 times the average daily volume.
Hemispherx Biopharma announced Wednesday that ANMAT, the agency responsible for the national regulation of drugs, foods and medical technology in Argentina, has approved the sale and distribution of Alferon N Injection in Argentina. In June 2010, Hemispherx agreed to provide GP Pharm an option to market Alferon N Injection, its FDA-approved natural interferon, in Argentina and other Latin America countries. In December 2010, GP Pharm exercised this right and in July 2011 GP Pharm submitted an application for approval to ANMAT. Alferon N Injection is already approved in the US for the treatment of refractory or recurring genital warts in patients 18 years of age or older. A major multi-million dollar investment scale-up of Alferon N Injection manufacturing is underway at Hemispherx's New Brunswick, NJ facility.
Hemispherx BioPharma closed at $0.32 Thursday.
VIST Financial Corp
Shares of VIST Financial Corp (NASDAQ: VIST), the Wyomissing, PA holding company for VIST Bank, rose 56% on Thursday on 31 times the average daily volume.
Tompkins Financial Corporation (NYSE: TMP) and VIST Financial Corp (NASDAQ: VIST) announced Wednesday that they have entered into a definitive merger agreement under which Tompkins Financial will acquire VIST Financial Corp. Based on the average of the closing prices of Tompkins Financial common stock for the 20 trading days ending January 24, 2012, the all stock transaction is valued at approximately $86.0 million at the time of signing the merger agreement, or $12.50 per VIST common share. Under the terms of the merger agreement, VIST shareholders will receive 0.3127 shares of Tompkins Financial common stock for each share of VIST common stock held.
VIST Financial closed at $10.80 Thursday.
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